Most employees at all Journal Communications Inc. divisions will take a 6-percent pay cut for the remainder of the year under a plan announced today by Steven Smith, the company's chairman of the board and chief executive officer.
In a letter sent to employees, Smith said the pay reduction and time off are a reflection of weak advertising spending, the Milwaukee Journal Sentinel reported.
"There is a high probability that this environment will continue for at least the balance of 2009," Smith said. "As we manage for the long-term success of the company, we must identify constructive ways to continue to reduce costs."
The pay cuts and time off affect executives, managers, market managers, supervisors, as well as corporate staff. The company also is asking on-air broadcast talent and most union employees to negotiate payroll reductions, the newspaper reported.
The program will be implemented at Journal Communications, Journal Broadcast Group, Journal Sentinel and Journal Community Publishing Group.
The letter came a day after 200 people in the Journal Sentinel newsroom received buyout offers to leave the company.
Journal Communications asks employees to take pay cuts
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