Friday, February 6, 2009

McClatchy union calls for deep cuts in corporate compensation

Brandon Ortiz calls for major cuts in executive compensation.
Today's actions also further highlight the need for major cuts in executive compensation at McClatchy's corporate headquarters. Simply declining undeserved bonuses or freezing bloated pay is not adequate, and is nowhere near the sacrifices rank-and-file employees have made. Workers have endured increases in health insurance premiums, the gutting of short-term disability benefits, a wage freeze and workforce reductions. It is past time for commensurate cuts to be extended to the millionaires in Sacramento. McClatchy executives should show the same commitment to preserving the company as it is requiring of its employees.

Before reducing executive compensation the board should explain to employees why Gary Pruitt still has his job. He's the guy who saddled McClatchy with $2 billion in debt -- who could possibly trust him to lead the company out of the hole he dug?


Archer05 said...

We have had comments that the unions are not strong arbitrators any longer, but this is one time they could bring added attention to the top salaries being paid, while employees lose their jobs. I would think the one thing the VIPs don’t want is employees joining forces, or sharing inside information.

Seeing the form letter sent yesterday would have never been known without one newspaper’s staff communicating with another. It is not that the form letter was such a bad thing, it is that employees found a way to compare them. That, is the important ‘new’ information for the McClatchy brass.

Anonymous said...

McClatchy executive culture stems from the age old "Editor as Oracle of all selected information" paradigm.

The MNI brass do not fear employees sharing information because in their world view, they are the source of all that is truthful. Other voices need not be heard.

It's the same attitude conveyed upon the newspaper's readership all these years.

The website's crack-down on reader's comments reflects that old attitude in new media.

It's that attitude that held advertisers hostage to rate card rape, until the advertisers died or fled.

So, forms of 'new information' technology won't cause one moment of worry on the third floor.

Anonymous said...

Does McClatchy have many union members?

McClatchy Watch said...

The Lexington Guild broke the story of McClatchy finally selling their corporate jet last year.