American Media Inc., the publisher of The National Enquirer, Men’s Journal, Us Weekly and other titles, is cutting the pay of its employees by more than 20 percent, a spokesman said on Saturday, as the coronavirus has shaken the economy and the advertising market.

“American Media is committed to doing everything we can during the Covid-19 crisis to ensure our staff maintain their employment and health benefits,” the company said in a statement.

There have been no layoffs, the spokesman said.

The cuts, first reported on Saturday by The Daily Beast, are the latest instance of a media outlet looking to slim down as normally robust advertisers, like restaurants and travel businesses, shutter. Some alternative weeklies have laid off as much as three-quarters of their staffs. Last week, the digital giant BuzzFeed announced temporary payroll cuts.



READ NEWS SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here