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

It's a sign publishers expect business to resume quickly

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.