Why More Media Companies Are Cutting Salaries Instead of Laying Off People

It's a sign publishers expect business to resume quickly

two empty chairs in a white room
Newsrooms have started to tighten their belts by reducing employees' pay rather than layoffs. Getty Images

Key insights:

Some media companies, no strangers to mass layoffs in the face of unstable funding models, are approaching the economic uncertainty caused by the coronavirus differently. Instead of adding to the layoffs that have seemed to hit consistently since the 2008 financial crisis, publishers are opting to scale back employees’ pay this time around—at least so far.

@SaraJerde sara.jerde@adweek.com Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.
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