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Bauer and GMG confirm pay freezes
By CMU Editorial | Published on Friday 20 February 2009
Two major media firms have announced pay freezes as management prepare to weather the advertising recession storm.
Bauer Media, owners of radio stations like Magic and Kiss, and music magazines like Q and Kerrang!, announced a pay freeze yesterday, though said that while pay packets won’t rise the move won’t effect bonuses or commission. The pay freeze will be company wide.
A spokesman told reporters: “Bauer Media believes it should prioritise efforts and resources in our core product – on air, on the page and online. As such, it has prioritised this spending above that of recruitment and on increasing salaries”.
Earlier in the week the Guardian Media Group, which has music interests through its GMG Radio division, which owns the Smooth and Real Radio brands, also said salaries will not increase this year.
Speaking to Media Week, a spokesman said this: “It is important that our businesses take prudent, responsible steps to adapt to the current climate and prepare for what is widely expected to be a very difficult 2009. These steps are designed to protect those businesses for the long term and to minimise any impact on people’s jobs”.
