TYSONS CORNER, Va.—Tegna is expected to begin issuing week-long furloughs to employees at local TV news stations in the second quarter as a result of financial difficulties during the coronavirus pandemic. While not being furloughed, Tegna news directors, stations heads, general managers and corporate senior vice presidents have also been notified that they will experience a temporary pay reduction during this time.
Dave Lougee, president and CEO of Tegna, notified employees of these decisions through an email, Poynter reported. Lougee also shared that he and the board of directors are going to take a 25% pay cut during April, May and June.
Most employees will be given a week-long furlough between the week of April 20 and the week of June 26. Meanwhile, new directors and station heads will receive a temporary 8% pay reduction, while general managers and corporate SVPs will receive a temporary 20% pay cut.
Despite the rise in viewership data for most stations, businesses that would advertise on these stations have been impacted by the coronavirus and as a result have pulled advertising.
Poytner reports that Tegna is the first major TV owner to announce such staff action.
For the full story, visit Poytner’s website.
Future US's leading brands bring the most important, up-to-date information right to your inbox