A year-long freeze on pay increases and bonuses has been imposed on all Trinity Mirror staff, the company announced today.

Chief executive Sly Bailey announced the move to staff in an e-mail today, citing the “severe impact of the economic downturn”.

She said: “Unfortunately there doesn’t appear to be any sign of an improvement for the foreseeable future and there are indications that it could get worse before it gets better.

“What is clear is that the gravity of the challenge facing our business is unlike anything we have seen before.”

In her email, Ms Bailey goes on to say that “further steps” now need to be taken to protect the future of the business.

“I have therefore decided not to hold a pay review for anyone in Trinity Mirror during 2009. This will apply to me, the Board, all management and employees of the Group,” she says.

The email, which can be read in its entirety here has caused anger at the National Union of Journalists.

General secretary Jeremy Dear said: “Sly Bailey has said she will forego her bonus next year, but earning a salary of more than £720,000 will probably help her get over the loss.

“This is yet another slap in the face for our Trinity Mirror members and comes at a time when they are being put under greater pressure than ever before,” he added.

“Many of our members will be seriously worried about the news.

“It’s one thing to make proposals like this which include commitments to stop redundancies, it’s quite another to impose a freeze whilst slashing jobs from the business. That’s a massive insult to Trinity Mirror journalists.

“The announcement also just goes to expose the sham of local consultation behind which the company hides whenever we try to open talks on a national basis.

A Trinity Mirror spokesman said: “The severe economic downturn is having an adverse impact on all media businesses as advertisers reduce their spending.

“Our priority is to safeguard the future of the group and we are taking a range of actions to reduce costs, including the announcement of almost 1,200 job losses and the closure of 44 titles.

“We are now taking additional actions to protect the business including no bonuses to be paid relating to 2008 and a company wide pay freeze.

“However, in recognition of the hard work and commitment required we have introduced a special 2009 incentive scheme in which all employees will participate.”

Comments

regionalhack (19/11/2008 20:57:24)
C’mon Sly, make a real gesture of hard times and cut your own pay, and that of all senior management, to that of a newly qualified senior journalist on one of your regional papers.
Your own annual salary would pay for dozens of journalists on one of your newspapers.
Still, life this year without that bonus will be mighty hard eh?

didila (20/11/2008 09:52:33)
wow, just wow,
Not long now until other newspaper companies follow Trinity’s trend.
This is unbelievable.

Teddy Ruxpin UK (20/11/2008 10:02:51)
It’s a good job the cost of living isn’t going up…

Charlie (20/11/2008 22:09:00)
Great to see the union attempting to enter into a proper negotiation on this. When will Jeremy Dear realise cheap quotes don’t actually help journalists? Fool

GD (21/11/2008 08:17:34)
Why should Sly take a pay cut RegionalHack? She’s doing a fantastic job! Plus, Trinity Mirror have been giving below inflation rises for years now.

wheresmedeskgone? (24/11/2008 20:08:14)
Don’t you just get the feeling now that Trinity Mirror are cynically using the situation and the current climate of fear to screw their staff well and truly into the ground just because they know they can get away with it. Not content with sweeping redundancies and the wholesale rewriting of people’s contracts as well as ever increasing workloads, now it’s effectively robbing cash out of pay packets. And a lot of these centres are still very profitable and have been over many, many years. Investing in People… yeah right.