Most employees at Journal Communications are getting a 6% pay cut for the rest of the year, reports Milwaukee’s Journal Sentinel, and are getting two weeks of personal days in return.
The cuts affect Journal Broadcast Group, whose 12 stations include KGUN Tucson and KTNV Las Vegas.
In a memo, Chairman/CEO Steven J. Smith suggested the economic turmoil facing the media company will extend into 2010.
“There is a high probability that this environment will continue for at least the balance of 2009,” Smith said. “As we manage for the long-term success of the company, we must identify constructive ways to continue to reduce costs.”