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.
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.

More in this section

Budget 2022 Logo

What impact will this  year's budget have on you and your business.

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up