By: Joe Strupp McClatchy is instituting an across-the-board wage freeze, according to a staff memo from Publisher Debbie Abels at The Herald in Rock Hill, S.C.
The memo, first posted on the Poynter.org Romenesko site, is aimed at Herald employees. But it states that the freeze is companywide.
"The Herald and McClatchy continue to manage through an economic downturn that is having an unprecedented negative effect on revenues, and, therefore, our financial health," the memo states. "While we have taken many steps to reorganize and streamline operations to respond to changing business models and these economic challenges, we need to do more to control expenses.
"As an important part of that effort, we are implementing an across-the-board, one-year wage freeze effective September 1, 2008," it adds. "This means that if you are scheduled to receive a merit or salary review between September 1, 2008 and August 31, 2009, your review will occur one year later than scheduled. For example, if your next salary review date is March 1, 2009, the salary review will be postponed until March 1, 2010. You will, however, receive regularly scheduled performance reviews during this period."
Finally, the memo reveals that "this freeze is being instituted across all of McClatchy, including at corporate and McClatchy Interactive. Employees for whom salary reviews are pending or whose scheduled salary review dates fall before the September 1, 2008 effective date remain eligible for their reviews. The freeze doesn't affect salary increases related to promotions or minimum wage adjustments."
Comments
No comments on this item Please log in to comment by clicking here