This article details the decisions behind pay cuts for media outlets across the world. Some companies like Vice ordering some employees to take 10-20% cuts in salary if their income is over $100,000 in a 90 day period, as well as Nancy Dubuc, the chief executive, reducing her salary by 50 percent.
What might these changes in media companies do for us graduates trying to enter into the industry?
The article added this statement from Jed Kolko, the chief economist at Indeed.com “…New listings for jobs in the media and communications sector had fallen 35 percent in the 60 days before April 3, compared with the same period last year. The decline in postings for all jobs was less drastic, at 24 percent, suggesting that the pandemic has had a greater effect on the news media industry than on other businesses, Mr. Kolko added.”