At a recent town hall meeting, Mindshare CEO Scott Neslund gave the grim news to the media company's staffers.

There won't be any raises or promotions until 2010 — though the company had suspended each of those perks as of last summer. Our source tells us Neslund alluded to the possibility of more layoffs, but didn't say when.

We're told this news came on the heels of HSBC's departure from the media company — though we can't say whether to events are mutually exclusive.

More: "MindShare Paid For A Bunch Of BS"