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Village Voice Media Brass Got Pay Cut

lacey and larkin-thumb-225x163.jpgWe’ve been covering the copious cutbacks in staff at the LA Weekly. We found this internal memo via Romenesko about further reductions:

We are also going to take these additional measures effective January 1, 2009:

1) All VVM senior managers and officers, including Jim Larkin and Michael Lacey, are taking 15% pay reductions.

2) VVM Publishers and Editors are taking 10% pay reductions until our revenues begin to grow again.

3) We will suspend the Village Voice Media match into our 401-K plan. The plan will still remain open and we urge you to take advantage of the tax deferred personal savings advantages.

Still doesn’t make up for laying people off on Christmas Eve. That could have waited a week, huh?

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