Sunday, May 31, 2009

GateHouse Media to temporarily issue pay cuts

Newspaper giant GateHouse Media New England said today it plans to temporarily slash employee salaries from the CEO down - instead of cutting 100 more jobs - amid sinking advertising sales.

The salary cuts begin Monday and average 7.75 percent, ranging from 7 to just shy of 15 percent, said GateHouse Media New England CEO Rick Daniels.

The company still has to negotiate the salary cuts with unions at the Patriot Ledger, the Enterprise of Brockton and the Herald News of Fall River.

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1 comment:

Anonymous said...

Won't work. It's too late. This company is b-r-o-k-e! They've stripped the papers to the bone with layoffs, they're pulling out of numerous suburban towns and they're top heavy with over-50 management people of doubtful skills