AppNewser Appdata FishbowlNY FishbowlLA FishbowlDC TVNewser TVSpy LostRemote more UnBeige AgencySpy PRNewser 10,000 Words MediaJobsDaily SocialTimes AllFacebook AllTwitter semanticweb.com

Macmillan Freezes Salaries

macmillanLogo.gifEarlier today, a Macmillan US memo announced a 2009 pay-freeze for all employees who earn more than $50,000. The plan will affect all the imprints under Macmillan’s umbrella, including Farrar, Straus, and Giroux, Picador, and St. Martin’s Press.

Despite the freeze, medical plans appear to remain intact and retirement funds held steady. Gawker has the complete memo, along with this important note:

“For those making under $50,000 there will be a pool for modest increases. All bonus plans will stay in effect, but all are sensitive to individual company profitability and individual performance … It has been a very tough year for retirement savings, so I’m happy to say we plan to make our usual discretionary contribution to the 401k plan for 2008 (paid in March 2009). As we informed everyone last week we will continue to absorb the same percentage of costs for our medical benefit plans. “

SPONSORED POST

Thursday May 23: Real Talk about Life after Publication

These days, writers aren’t just writers: They’re social-media mavens, seasoned public speakers, and one-person publicity machines. And they still have to find time to write their books! Find out what life is like once you've landed that dream book contract in a free web chat with young-adult authors Elizabeth Norris (Unraveling and Unbreakable) and Brodi Ashton (Everneath and Everbound) — plus special guest Kristin Rens, editor at HarperCollins imprint Balzer + Bray. Thursday, May 23 at 7:00 p.m. ET. on Figment.com.