Ugh. It’s another challenging day for Gannett Co.-owned CBS affiliate KTHV-TV, Channel 11.
Arkansas Business’ Mark Hengel has the local angle on Gannett’s latest cost-cutting measures, which you might have noted brewing for several days now on the Gannett Blog:
The company that owns Little Rock’s CBS affiliate is imposing permanent wage cuts of up to 6 percent on employees, according to a memo leaked Tuesday to a blogger. The cuts will take affect July 1.
The cuts are the latest in a rash that has affected several media companies since the economy began to struggle. The company imposed furloughs in January.
The Gannett Blog obtained two memos sent to employees of Gannett Co.’s broadcast division – including KTHV-TV, Channel 11 – that outlines the cuts. The cuts result from a “permanent reset of the American economy on the other side of the economic storm,” division president Dave Lougee wrote.
The cuts will not affect employees making less than $30,000.
Hengel has more details on the cuts and how they break down, as well as comments from Larry Audas, KTHV’s president and general manager, here.
* Disclosure: Arkansas Business and THV have a news sharing partnership, and I appear on THV news programs to deliver business news headlines.
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