Monday, January 26, 2009

N&R imposes wage freeze, unpaid days off

The News & Record of Greensboro told employees Monday they will have to take five unpaid days off during the first half of the year.

Publisher and President Robin Saul announced the move to employees on Monday through a memo obtained by The Business Journal. Saul was not immediately available for comment.

“Despite the many actions we have taken to increase revenues and reduce costs, all signs point to a very difficult year in 2009,” Saul wrote in the memo. “Even though we anticipated these tough times and budgeted for these poor market conditions, the actual performance of our revenues has been worse than expected. Our business is suffering because our customers are hurting.”

Saul said the first unpaid day off would come President’s Day, Feb. 16. The other four days will be announced later.

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