Creative Loafing Cuts Executive Compensation
By AAN Staff
march 4, 2009 12:43 pm
Starting in April, the six-paper chain will cut executive compensation by five to 15 percent,
Washington City Paper's Erik Wemple reports. On a conference call today, COO Kirk MacDonald said that he and CEO Ben Eason will take the 15 percent cut and that others -- including publishers, sales executives, and top editors -- will get more moderate slices. Wemple is glad he didn't have to implement another round of layoffs. "This approach makes way more sense," he writes. "No depressing discussions with the staff today!"
MORE: The
Chicago Reader and
Creative Loafing (Tampa) weigh in.
Tags:
Circulation,
Classified Advertising,
Design & Production,
Editorial,
Electronic Publishing,
Financial,
Management,
Marketing,
Retail Advertising,
CL, Inc.
