GalleyCat - The First Word On the Book Publishing Industry

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. "


new on mediabistro.com

The Future of Social Media with Chris Anderson

The editor of Wired explains how to create a social network that works.
Watch the video

Email This Post

Fill out the following information and click on the Send button in order to send this post, Macmillan Freezes Salaries, to a friend.
Friend's name
Friend's email address
Your name
Your email address
Note to your friend (optional, max 200 Characters)

Read more on GalleyCat >

The First Word On the Book Publishing Industry
GalleyCat in Your Inbox
Mobile Version
RSS Feed
Our Blog Network

BayNewser

WebNewser

TVNewser

PRNewser

MediaJobsDaily

FishbowlNY

FishbowlDC

FishbowlLA

MobileContentToday

AgencySpy

UnBeige

GalleyCat

GalleyCat Staff

Editor:

Jason Boog

Senior Editor:

Ron Hogan

Correspondent:

Jeff Rivera

Follow GalleyCat

Email GalleyCat

Anonymous Tips
Favorite Posts

heather-thomas-sidebar.jpg Our Chat With Heather Thomas
jack-oconnell-sidebar.jpg The (Long-Awaited) Return of Jack O'Connell
marya-hornbacher-sidebar.jpg Marya Hornbacher: "No Tortured Artists Here"
stean-sagmeister-sidebar.jpg Stefan Sagmeister: "Design for Non-Designers"
 Why Does Maureen Dowd Hate Popular Women?
Topics

About the 'Cat

About Us - Modules

Adaptation

Agents

Authors

Awards

Behind the Deal

Book Fairs

Book Jackets

Book Trailer

Bookselling

Buzz/PR

Celebrities

Comicbookland

Contests

Deals

eBooks

Editors

Feuds

Food & Drink

GC's Hitlist

Lecture Circuit

Libraries

Lit Crit

Litterbox

LOLgalleycats

Mailbag

Monday Morning

New & Upcoming

Paper Cuts

Party Hopping

People of Color

Polls

Publishing

Q&A

Readers

Sex, Drugs & Rock n Roll

The Revolving Door

Trends

Undiscovered Writers

Web & Tech


Links

Book Beast@The Daily Beast

Bookseller.com

Books@Wowowow

Buzz, Balls & Hype

Danuta Kean

E-Reads

Eco-Libris

MarianLibrarian

Publishers Marketplace

Publishers Weekly

Publishing Contrarian

Publishing For Profit

Publishing Insider

Publishing News

Publishing Perspectives

The Publishing Spot

Publishing Trends

PubRants

Rick Frishman

Shelf Awareness

TeleRead

Weekly Publishing Moves

The Write Report

...more...

Archives

November 2009

October 2009

September 2009

August 2009

more...


Job Listings

Featured Listings

Supervisor Transactions & Journals Production
IEEE
Piscataway, NJ

Administrative Assistant to Photo Director
Book/Calendar Publisher
New York, NY

Account Executive - Denver
The Bump
Denver, CO

Senior Producer
Scholastic
Watertown, MA

ADVERTISEMENT


mediabistro.com l Member Benefits l Jobs l Freelance Marketplace l Courses l Events l Forums l Content
mediabistro Blogs: Media News l TVNewser l GalleyCat l UnBeige l FishbowlNY l FishbowlLA l FishbowlDC l PRNewser l AgencySpy
MobileContentToday l WebNewser l BayNewser l MediaJobsDaily l mbToolbox
Site Map l Advertising/Sponsorships l Partners l About Us l Contact Us/Help

internet.commediabistro.comJusttechjobs.comGraphics.com

Search:

WebMediaBrands Corporate Info

Legal Notices, Licensing, Reprints, Permissions, Privacy Policy.
Advertise | Newsletters | Shopping | E-mail Offers