Post-Dispatch Agrees To 6% Pay Cut
The St. Louis Post-Dispatch has agreed to a five year contract that cuts pay by 6 percent in the first two years, Editor and Publisher reports.
Newsroom, advertising, and janitorial employees will also take three weeks of unpaid furloughs.
If the paper’s revenues rise by at least 2 percent a year, wages will rise by 2.5 percent a year in each of the last three years of the contract. Which amounts to a tenth of a percent of a raise a year until 2015.
The contract, which publisher Kevin Mowbray said was necessary “for immediate cost reductions as we continue to be negatively impacted by the most unprecedented economic downturn since the Great Depression,” also includes a six-month moratorium on layoffs.
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