Hearst Promises Journalists at Its Newspapers No Furloughs, No Pay Cuts

Bucking the newspaper industry trend, Hearst Corporation has told its newsrooms there will be no layoffs, no furloughs and no pay cuts during the course of coronavirus coverage.

In fact, Hearst CEO Steven Swartz told publishers and editors in a conference call this week, the company is giving a 1% bonus to all employees, will create an added bonus merit pool later and is waiving the budget targets that determine executive bonuses.

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