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Hoping to further contain costs, Westwood One announced Tuesday (March 24) the radio network was reducing salaries for all employees and streamlining staffing levels in certain operation areas. Few details were provided, but the company said compensation would be adjusted on a sliding scale determined by an employee’s compensation level. Senior management will incur the highest percent decrease in base salary with a reduction of 15 percent.
The salary changes follow a number of steps Westwood has initiated to shore up its financial position, including refinancing debt, re-engineering its traffic division and launching new high-profile programming.
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