Thursday, April 2, 2009
The media biz hackings continue.
Employees of Journal Communications—which includes the Journal Broadcast Group's KGUN Channel 9 and four radio stations in Tucson—got this notice today.
Here's an excerpt:
Today we announce an additional company-wide cost saving effort—An Employee - Wage Reduction Program. Here is how it will work:
• Beginning with our first pay period in the second quarter, full-time employees will take a 6% base pay reduction for the balance of 2009.
• These full-time employees will receive 10 personal days off to be used between April 7, 2009 and December 31, 2009. The personal days off will not be paid out upon separation from the company, will not be accrued, and can not be carried over into 2010.
• Our current intention is to restore employee compensation in 2010. Of course the decision depends upon the business conditions at that time.