Top executives and “others in higher paid positions” at Gannett will be asked to take a furlough in the second quarter of 2011, reports Gannett Blog. The news was confirmed by a memo sent by Nashville Tennessean Publisher Carol Hudler, who is also president of Gannett’s South Group of newspapers.
The top executives might not mind so much: many got big raises last year, including Chairman and CEO Craig Dubow, whose pay doubled to $9.4 million.
Gannett Blog’s Jim Hopkins says that Gannett has a precedent for setting furloughs based on income. In 2009, employees making more than $90,000 were told to take two weeks off while everyone else got one. This had the unintended (and to our eyes hilarious) side effect of some people learning that their coworkers made significantly more money for the same jobs.
The furloughs are likely needed. Last week, COO Gracia Martore said that the company’s publishing revenue would be down another 6 to 7 percent in Q1.
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