Wednesday, November 30, 2011

Will Martore share the furlough pain this time?

The top bosses of the U.S. newspapers division and Gannett Publishing Services will both take a one-week unpaid furlough during the first quarter, based on the criteria they laid out in today's memo to employees.

Martore
But what about CEO Gracia Martore? Her name is conspicuously absent from a memo and FAQ that were no doubt vetted closely by lawyers and others before they were released.

When newspapers division President Bob Dickey announced the last big furlough, in January, he said in a memo: "I will be taking a furlough during the quarter and Craig Dubow and Gracia Martore each will be taking a reduction of salary that is equivalent to a week’s furlough."

Maybe Martore is, in fact, joining the other 99% in reducing her pay by an amount equivalent to a week's furlough; that detail just didn't make today's communiqu├ęs. Or perhaps Martore didn't feel she needed to, since she already declined a raise when she was promoted to CEO last month.

It's a long shot, but maybe Corporate will weigh in on this. Please post your replies in the comments section, below. To e-mail confidentially, write jimhopkins[at]gmail[dot-com]; see Tipsters Anonymous Policy in the rail, upper right.

11 comments:

  1. Jim, I can assure you that even if the Queen Bee does take a furlough she WILL NOT be "feeling the pain" felt by the majority of us worker bees. She's making nearly $1 million, and I'm sure she'll get a hefty bonus. I think she can handle a week without pay without much pain at all. Meanwhile, us worker bees will be feeling even more pain that a year ago. Thanks to last year's layoffs, we have fewer people left to cover for co-workers on furlough. That means -- all together now -- "Doing more with less." We know that song by heart. It's the Gannett creed.

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  2. A $20,000 hit is still a $20,000 hit. It doesn't matter hiow much money you make.

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  3. 6:07- WHAAAAAAAA!!!!!! Whatever.

    Can somebody please explain to me WHY the crystal palace and USAT are never effected by these furloughs? If we're going to trim fat. Wouldn't that be a good place to start?

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  4. 6:07 huh? For many, $20K is half a years pay, for Martore, its a few hours.

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  5. Crystal palace won't be affected by the furloughs because all the newbie vice presidents had bonus deals to come on board. It will mean one less bottle of Chivas for Hunke, though.

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  6. Gracia has made half ass compensation concessions in the past. But really, when you enjoy top tier benefits like taking the Gannett jet to the Vineyard, it is all relative. None of the top tier will be hurt by this. Too bad it is so unnecessary in the scheme of things.
    We can expect another 5 years of tyranny, fear and incompetence until her retirement. By then, she'll have pulled in another $25 million or so while thousands more employees lose their jobs.


    Will this board of directors wake up and start demanding something better for shareholders and the 99% of employees affected by Gracia's "vision"?

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  7. 6:07, I have seen a lot of stupid crap posted in the comments section of this blog. Your comment is right there w/ the stupidest of them.

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  8. 9:18 gulp. Think he'll be OK? Poor dear.

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  9. Despite any infinitesimal feeling of corporate warmth the rank and file may draw from a decision by Martore to take a furlough, it seems counterproductive for the CEO and other top executives of a major company facing major issues to take furloughs.

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  10. 11 Last year, Dubow and Martore didn't actually take a week off. As the text says: "Craig Dubow and Gracia Martore each will be taking a reduction of salary that is equivalent to a week’s furlough."

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  11. this is just ridiculous. the only reason these people get away with finding a "legal" way to NOT uphold a signed agreement to pay employees the amount of money they agreed to (furlough) while they get richer is because we let it happen! the only way things will ever change is if the "99%" actually gets the balls to stand up and do something about it. but we don't. instead, we all sit at our desks, quietly doing our jobs while discretely posting anonymous comments to the company's blog site. seriously?!?!

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