Star-Ledger Cuts Salaries, Benefits
The Star-Ledger, New Jersey’s largest paper, is no stranger to belt-tightening, but they’re going to take it one step further later this year. After asking 200 employees to take buyouts just a few months ago, the paper announced yesterday that it will now be reducing employee salaries and its payments for their health care benefits.
According to the AP, remaining Star-Ledger employees’ salaries will be reduced on a sliding scale starting July 1, with the first $40,000 reduced by 5% and the next $40,000 by 10%.
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