iHeart is forcing employees who make $50,000 or more to take two weeks of “unpaid vacation”.
No pay is no vacation and as it turns out iHeart’s promise to make this their last action impacting employee compensation is a red herring for what they really mean.
The lost wages are approximately 4% of their annual pay and most employees would rather take that than be out of a job at a time like this.
And we now know the average pay of an iHeart employee based on yesterday’s no-paycation decision although the ratio of Bob Pittman’s compensation to the average employee is telling.
The unpaid iHeart vacationers are not just going without pay for two weeks.
Many are next in line to be fired.
- iHeart Gaming of Media Monitors Exposed
- 1 Record Label Is Worth More Than the Radio Business
- Radio’s Sudden Rebranding
- The Number David Field Is Hiding
- The Cumulus Struggle to Remain Solvent
- Audacy Burning Through Cash at Record Pace
- Pittman & Bressler’s Fix for iHeart
- Epic Cumulus 1st Quarter Fail, Shakeup
- Audacy Planning More Management Layoffs
- Agent: Radio Talent Book Drops 50%