McClatchy to freeze wages
By Erina Lin, Friday 15 August 2008 at 22:39 :: Labor & Employment :: #2119 :: rss
McClatchy announced Thursday it will freeze employee wages for a year starting Sept. 1, The Sacramento Bee reported.
Publisher Cheryl Dell stated in a memo to employees that the freeze will apply to all McClatchy’s operations, including corporate executives and Internet staff.
Sacramento-based McClatchy owns The Bee and 29 other daily newspapers throughout the United States. Two of the key markets are in California and Florida, both of which have been seriously struck by the housing market recession.
The Bee has taken several actions to reduce costs, but Dell stated in the memo that more needed to be done, The Bee reported.
"We have avoided taking this step as long as possible," she added.
The U.S. newspaper industry has been struggling in the weakening economy. Many publishers have laid off staffers, including The Bee, the Los Angeles Times and New York Times, according to The Bee.
Comments
No comment.
Post comment