NYT Freezes Management Pensions
You know, we have to give it to the NYT: the company announced that in order to cut costs, it’s freezing pension and benefit plans for its managers but not its unionized workers.
This’ll save the company something like $110 million in just the fourth quarter of 2009.
Kudos to the company for cutting benefits of its higher-ups first. It’s a tough decision when you have to do this but this will help morale.
(h/t MediaMemo)
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