A newspaper online is not an online newspaper. Here is Prof. Jay Rosen's take on "the ethic of the link." This is crucial to our emerging role as aggregators, combining our best work with links to other information.
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Mike -- question: Does the one-year companywide pay freeze McClatchy announced apply to executive bonuses as well? Do you still qualify for a bonus, and if so, can it be larger than last year's bonus? Thank you.
ReplyDeleteBonuses at all levels are paid based on performance according to an advance agreement. Thus an editor or sales manager could perform well and receive a bonus despite the salary freeze. Senior executive bonuses are tied to overall company performance, and as a result have generally been lower and will be lower based on company results.
ReplyDeleteSo will something be done to rein in those bonuses, in the spirit in which other employees are taking what's effectively a pay cut due to inflation? Are the "advance agreements" you speak of legally binding, or can they be modified? I'm sure they were made under the assumption of a better revenue environment, much like employees who put their money into McClatchy's 401(k) match were expecting less than a 90% loss.
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