Caltrops - Wall Street Kid





	[quote name="IPB"][quote]Group Nine, publisher of Thrillist, The Dodo, Popsugar and others, announced towards the end of March that the executive leadership team is taking a pay cut of roughly 25% for the remainder of the year while CEO Ben Lerer will give up about six months worth of pay. Additionally, the company has frozen its hiring and eliminated its summer internship program for 2020. Benefits, such as non-mandatory merit raises and matching 401(k) contributions, have also been suspended for an indefinite amount of time, according to a company spokesperson. Vice announced that for 90 days, its workforce is adapting to a four-day work week in exchange for a 20% reduction for those earning $125,000 in the U.S and 10% for those earning $100,000 to $125,000, according to a source familiar with the company. Executives are specifically taking a 25% reduction. BuzzFeed last week announced there would be graduated salary reductions starting at 5% for employees making $40,000 to $64,900, up to 14-25% for certain executives making above $225,000 annually, while CEO Jonah Peretti isn’t taking any salary for the remainder of the crisis, according to an internal memo shared with Digiday.[/quote] Group 9 laid off 7% of its staff [/quote]