Corporate Salary Cuts at Creative Loafing

From a conference call with the head honchos at Creative Loafing Inc, which owns Washington City Paper, as well as five other alt-weeklies Wemple learns and shares that starting in April, CL will be cutting executive compensation by five to 15 percent.

Wemple says:

I shuddered to think we’d have to make another round of layoffs. This approach makes way more sense, despite the stress that it places on the company’s most wealthy employees.