Major Digital Publishers Enact Pay and Benefits Cuts to Stanch the Bleeding

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Entering into the third week of working remotely, publishers began to make cuts to their businesses to control operating costs, with many following the lead of BuzzFeed and enacting an assortment of pay cuts and benefits reductions that do not—for now—cut deeply into staff.

  • Group Nine, publisher of Thrillist, The Dodo, Popsugar and others, announced late last week that the executive leadership team is taking a pay cut of roughly 25% for the remainder of the year while CEO Ben Lerer will give up about six months worth of pay. Additionally, the company has frozen its hiring and eliminated its summer internship program for 2020. Benefits, such as non-mandatory merit raises and matching 401(k) contributions, have also been suspended for an indefinite amount of time, according to a company spokesperson.

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