By: E&P Staff Consolidated Publications imposed an across-the-board pay cut at its papers, including The Anniston (Ala.) Star, The Daily Home in Talladega and four weeklies.
?Those cuts are the results of precipitous declines in advertising revenues that are shared across our industry," said Ed Fowler, the company's vice president for operations. "We must reduce expenses when revenue falls as fast and as far as in recent months."
An earlier report linking the pay cut with mortgage payments on the company's Anniston headquarter is not accurate, Fowler added.
"It is true that we have mortgage payments to make on our building here and a new facility in Talladega as well," he said. "But those payments are just part of our overall expenses and not the reason we had to cut salaries."
Separately, The Birmingham (Ala.) News confirmed on its Web site earlier reports that it was imposing a 5% to 8% pay cut on most employees beginning at the end of the month.
Publisher Victor Hanson III told employees advertising revenues have declined. "It is imperative that we maintain a robust, independent voice for news and commentary in Birmingham, as well as an effective vehicle for our advertisers," Hanson said, according to the Web site account.
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