National Enquirer Publisher Is Cutting Employees’ Pay
American Media is the latest media outlet to announce cuts as the coronavirus has shaken the economy and the advertising market.
By Marc Tracy
American Media Inc., the publisher of The National Enquirer, Men’s Journal, Us Weekly and other titles, is cutting the pay of its employees by more than 20 percent, a spokesman said on Saturday, as the coronavirus has shaken the economy and the advertising market.
“American Media is committed to doing everything we can during the Covid-19 crisis to ensure our staff maintain their employment and health benefits,” the company said in a statement.
There have been no layoffs, the spokesman said.
The cuts, first reported on Saturday by The Daily Beast, are the latest instance of a media outlet looking to slim down as normally robust advertisers, like restaurants and travel businesses, shutter. Some alternative weeklies have laid off as much as three-quarters of their staffs. Last week, the digital giant BuzzFeed announced temporary payroll cuts.
Source: Read Full Article