The layoffs, firings and furloughs continue, but now the salary givebacks are ready to be deployed.
Salem implemented crushing salary cuts yesterday – a major blow to survivors.
Previously iHeart and Entercom either requested volunteers to work for less or forced them into giving back salary – especially those making $50,000 or more.
And Entercom of course has been dickering with employees since the CBS merger to nickel and dime them down to what David Field felt they should really be paid.
This time, the survivors will need to get ready for life support as we preview the pain iHeart, Entercom, Cumulus and other companies are ready to inflict on their “luck to have a job” survivors.
And, a bright note about the radio company that gave everyone a raise – that’s right, a small company yes, but a raise not a firing or cutback in the same coronavirus economy in which everyone else is punishing employees for their mistakes.
- Cox Media Group Came Within Days of Being Sold
- Cumulus Fears Takeover Bid
- Beasley Is Next
- The Hole in the Market for Radio
- No Rush to Pay iHeart’s Debt
- What Soros Wants by Buying Audacy’s Debt
- Young Demos and Podcasting
- SiriusXM Is Retreating from Cars
- Investors Turn Negative on Cumulus
- Investor Trying to Block Audacy Bankruptcy