Gannett Co. Inc., the parent of The Indianapolis Star, told employees Monday morning that it was instituting furloughs and other cost reductions to make up for advertising declines during the pandemic, according to multiple media outlets.
Reporters and editors who earn more than $38,000 annually will be required to take one unpaid week off per month during April, May and June. Executives will take a 25% pay reduction. CEO Paul Bascobert said he would take no salary during the time period.
Bascobert said page views have soared on Gannet news sites during the pandemic, but that isn’t translating into advertising dollars.
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