Irish Times Group cuts senior staff pay

Irish Times Group cuts senior staff pay

The Irish Times Group has announced pay cuts for senior managers and editors in response to the challenges the organisation is facing as a result of the Covid-19 pandemic.

The company publishes the Irish Times, Irish Examiner, The Echo, BreakingNews.ie and other print and digital titles.

In a notice to staff today, chief executive Liam Kavanagh said the company was putting in place three-month pay cuts of up to 30% across the group for managers and editors who fall outside the upper threshold of the Government employment subsidy scheme.

Other salaries in the group will be maintained with the support of the scheme.

Board fees for all executive and non-executive directors of The Irish Times DAC and The Irish Times Trust CLG have been waived, along with the salaries of the respective chairmen of the Board and Trust, for a period of six months "In all cases, we are continuing to provide service to readers and to advertisers & customers. Nonetheless, we have seen a decline in our revenues and particularly in advertising," Mr Kavanagh said.

The Irish Times Group joins a number of other media organisations both in Ireland and across the globe forced to make pay cuts and other cost-saving measures due to the impact of the Covid-19 pandemic, in particular, a significant fall-off in advertising.

Independent News and Media, the Business Post, Journal Media, Communicorp and a number of regional media titles have announced similar cuts in recent days.

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