McClatchy (Miami Herald) Freezes Pay

Sayeth the McClatchy paycheck nazi: No more raise for you!

Sorry, Miami Herald compadres. Guess you'll have to put off that luxury yacht purchase another damn year.

Here's the memo, which was posted on Romenesko (I assume this was received by Miami Herald staffers as well, under another name):

From: "Abels, Debbie - Rock Hill" Date: Thu, 14 Aug 2008 13:00:07 -0400 To: RH All York County Conversation: Wage Freeze Subject: Wage Freeze

Dear Herald Employees,

The Herald and McClatchy continue to manage through an economic downturn that is having an unprecedented negative effect on revenues, and, therefore, our financial health. While we have taken many steps to reorganize and streamline operations to respond to changing business models and these economic challenges, we need to do more to control expenses.

As an important part of that effort, we are implementing an across-the-board, one-year wage freeze effective September 1, 2008. This means that if you are scheduled to receive a merit or salary review between September 1, 2008 and August 31, 2009, your review will occur one year later than scheduled. For example, if your next salary review date is March 1, 2009, the salary review will be postponed until March 1, 2010. You will, however, receive regularly scheduled performance reviews during this period.

This freeze is being instituted across all of McClatchy, including at corporate and McClatchy Interactive. Employees for whom salary reviews are pending or whose scheduled salary review dates fall before the September 1, 2008 effective date remain eligible for their reviews. The freeze doesn't affect salary increases related to promotions or minimum wage adjustments.

We have avoided taking this step as long as possible. We know this freeze comes at a time when the economy is putting stress on your personal expenses and when you are working hard to adapt to our changing business model. I greatly appreciate all that you do for The Herald, and I hope I can continue to count on you as we manage through this very difficult period.

Please feel free to contact your division director or me if you have questions.

Debbie

Debbie Abels
President & Publisher
The Herald
132 W. Main Street
Rock Hill, SC 29730

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