By: E&P Staff
Reuters has reported that Dow Jones will give its CEO a stock bonus worth nearly $900,000, while the publisher of the company’s flagship newspaper, The Wall Street Journal, will receive a bonus worth nearly $500,000. The paper’s former publisher, Karen Elliott House will receive shares worth just over $450,000, and the paper’s managing editor, Paul Steiger will get a bonus of almost $325,000 in stock.
The bonuses come after the company has made signifigant cuts in both staff and in the Journal’s physical size in order to save money. The company announced two weeks ago that it was planning to cut jobs in its enterprise media group, and the Journal cut costs as well this month by debuting a new format that would save newsprint costs by narrowing the paper by one column.
Related E&P stories:
— ‘WSJ’ Employees Hit Company — in ‘NY Times’ Ad
— Redesigned ‘WSJ’ Offers Free Copies, Web Access