The Dallas Morning News is the latest newspaper to take significant cost-saving steps during the coronavirus crisis. The paper has announced pay reductions for staff. Here’s the breakdown.
For those making:
- $45,000 and below: a 3% base salary reduction;
- $45,001 and above: an 8% base salary reduction.
In addition, the CFO and publisher will each take a 10% base salary reduction and the CEO and board of directors will take a 17% base salary reduction.
The Morning News joins the long and ever-growing list of news outlets making moves to help offset the drastic drop in revenue, mostly due to the significant decrease in advertising because of the coronavirus. Many news outlets — including the Cleveland Plain Dealer, Tampa Bay Times and the papers in the Gannett, Lee Enterprises and Alden Global Capital chains — are reducing salaries, implementing mandatory furloughs and/or cutting staff.
The Morning News is not laying off anyone and the pay cuts, for now, are expected to be temporary until the publication gets its footing again after coronavirus.
Tom Jones is Poynter’s senior media writer. Email him at firstname.lastname@example.org or tweet to him at @TomWJones.