Apr 6, 2020
DMGT and Reach cut pay amid coronavirus downturn
The parent company behind the Daily Mail newspaper and the UK's largest regional news group have both unveiled packages of emergency measures including pay cuts for journalists as they try to weather the coronavirus pandemic. Daily Mail and General Trust - the parent company that publishes the Daily Mail, Metro and Mail Online - said on Monday that staff earning more than £40,000 would be asked to take pay cuts of up to 26 per cent. Executive chairman of DMGT, also announced there would be a "Unique" compensation scheme where employees whose salaries are cut will in return receive shares in the company equivalent to the same value each month. Earlier in the day Reach, the rival publisher of the Daily Mirror, Daily Express and Daily Star, adopted harsher measures, including sweeping pay cuts and placing journalists on the government's furlough scheme. The company said the "Most senior" editorial and management team would take 20 per cent pay cuts, while salaries of the remaining staff will drop by 10 per cent, as long as this does not push them below the UK living wage of £9.30 an hour.
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