Many Reuters editors and reporters will not receive any pay raises in 2013, according to a memo from human resources distributed on Tuesday.
The memo, obtained by Talking Biz News, says that all Reuters editorial staffers who make more than $100,000 will not receive a raise this year.
The decision comes in the wake of company-wide layoffs last week at parent company Thomson Reuters that also affected some jobs in the editorial operations. The editorial staffers will still be eligible for bonuses, according to the memo. All Thomson Reuters employees, not just those in editorial, who make more than $100,000 will not receive raises in 2013.
It’s unclear how many Reuters journalists are affected by the decision.
“Recently, Steve Adler and the other members of the Thomson Reuters Executive Committee and Executive Leadership Teams made many difficult choices aimed at lowering our expenses,” reads the memo. “The decision about 2013 salary increases was one of the most difficult. Steve and the other senior leaders across Thomson Reuters felt that our company’s top earners are in a better position than our lower salaried earners to weather this type of decision. We are fully intent on getting back to a cost base that will allow us to reward people better in the future.”
Adler is the editor in chief of Reuters. The memo is from Sara Birmingham, the global head of HR at Reuters.
