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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: pay cut

pay cut stories: 6 news summaries
Steven Pearlstein

New Pay Rules May Hurt Banks, but Protect Public

They'll discourage commercial banks from being investment banks

Oct 23, 09 8:33 AM CDT
(Newser) - Steven Pearlstein isn't exactly wowed by the new salary rules being proposed for Wall Street. "Don't get carried away. By themselves, these measures won't prevent future crises, nor will they likely do much to lower the prevailing pay levels on Wall Street or in corporate America." But, he... More »

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Wall Street • executive compensation • Federal Reserve • banking industry • pay cut • Kenneth Feinberg

 Pay Cuts: America's New Norm 

Nine straight months of declining pay sets new record

Oct 14, 09 7:49 AM CDT
(Newser) - In previous recessions, layoffs were the principal way for employers to cut costs—pay cuts were seen as demoralizing and a sure-fire way to lose workers to other jobs. But now pay cuts, sometimes in the form of demotions or shortened workweeks, are more common than at any time since... More »

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wages • recession • unemployment • pilot • furlough • pay cut

(Newser) - The Boston Globe's biggest union has ended a four-month battle with the New York Times company and voted to accept $10 million in pay and benefit cuts, the Boston Herald reports. Union members—who have been living with a 23% pay cut since rejecting an 8.3% decrease last month—... More »

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newspaper • union • New York Times Company • Boston Globe • newspaper industry • pay cut • Boston Newspaper Guild

(Newser) - Overpaid maestros had better accept slimmer paychecks before America's great orchestras sink into silence, John von Rhein writes in the Chicago Tribune. With the Great Recession raging and musicians accepting pay cuts, big-name conductors like Lorin Maazel and James Levine still rake in millions. Welcome to "the dirty little... More »

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bankruptcy • recession • salary • economy • orchestra • pay cut • Jay-ZTV

Globe's Rank-and-File Will
Take Pay Cuts—if Execs Do

Management, unions sit down

Apr 5, 09 3:34 PM CDT
(Newser) - Unionized Boston Globe employees say they’re willing to make sacrifices to save their foundering newspaper—but only if executives and managers do the same, the Globe reports. “If management is willing to lead us, to take pay cuts and concessions, I'm sure the union would be willing,”... More »

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unions • New York Times Company • Boston Globe • concession • sacrifice • newspaper industry • pay cut

(Newser) - The economic crisis and outdated business models are forcing steep cuts at three venerable news organizations. The New York Times today announced a 5% pay cut for all employees, who were offered 10 extra days off as compensation, "in a spirit of shared sacrifice and as a way... More »

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New York Times • Washington Post • NBC Universal • recession • salary • buyout • NBC News • pay cut • raise

6 Stories


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