Newsroom employees at Hearst Corporation received great news this week: there will be no layoffs, no furloughs and no pay cuts during the course of coronavirus coverage.
Rick Edmonds of Poynter, reports that Hearst CEO Steven Swartz told publishers and editors in a conference call that the company also will give a 1% bonus to all employees, will create an added bonus merit pool later and is waiving the budget targets that determine executive bonuses.
In addition, the company is taking out six-figure TV ad buys in some markets to promote the papers and their pandemic coverage.
