Due to the ongoing economic disruption
, Willamette Week announced Thursday that the company is reducing staff pay by 8 percent effective March 16.
Owners Mark Zusman and Richard Meeker also said at an all-staff meeting they will reduce their own pay 25 percent. As a result of all the cuts, the paper expects to be profitable for the balance of 2009. This reduction in pay comes on top of earlier layoffs.
The cost-cutting is in keeping with a trend
that virtually every media company in the country is experiencing. At the same time, Meeker announced that the paper WW had just published was the largest since November and that ad sales for the spring appear ahead of budget.
And the two owners expressed the need to err on the side of caution given the economic uncertainties.
If you have any questions, feel free to drop them at Zusman's weekly web column/therapy session Ask The Editor