Gannett Co., owner of The Daily Advertiser, announced another round of unpaid furloughs just five days after the corporate giant disclosed $2 million in bonuses to CEO Craig Dubow and the other four highest-paid execs. “Even after his 2008 bonus was whacked in half, Chairman and CEO Craig Dubow still got $875,000, according to the new proxy report to shareholders. And that was on top of his $1.2 million salary, plus all the other millions the 54-year-old has made since 1981, when he began climbing Corporate’s ladder,” reports independent Gannett watcher Gannett Blog.
For more on how the cuts have affected The Daily Advertiser and its sister publications, read The Independent Weekly's cover story Chain Reaction.
The nation’s largest newspaper group, which cut 2,200 newspaper jobs during the fourth quarter of 2008 and forced employees to take a week off without pay this year, has not ruled out the possibility of more layoffs.