American Media Inc., the publisher of National Enquirer and a plethora of other magazines, has cut staff pay by nearly a quarter as the company struggles to overcome new coronavirus-related business losses, according to a recent report.
AMI Chairman David Pecker sent a staff-wide email Saturday notifying employees the media company would be decreasing their salaries by 23 percent, effective April 1 until further notice, according Fox Business.
An AMI spokesperson told FOX Business on Tuesday the publisher “is committed to doing everything we can during the Covid-19 crisis to ensure our staff maintain their employment and health benefits.”
Pecker attributed the pay cuts to a “sudden loss of millions of dollars in the short term,” which he said was caused by a decline in ad and newsstand sales, as well as travel, which, in turn, contributes to the lack of magazine sales, according to the report.
The pay decrease was not believed to be permanent and was, instead, a way to avoid layoffs just weeks after AMI parted ways with digital staff members from their OK! and Radar Online teams, Page Six reported.
“All American Media staff must band together at this time in an effort to save jobs and stabilize the company,” Pecker wrote in the letter, according to the outlet.
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