Crain's publications cut pay, staff

Jaclyn Trop of the Detroit News writes Thursday that Crain’s has cut positions at its business newspapers and the remaining staff members have received a 10 percent pay cut.

Trop writes, “‘Change is never easy, but aggressive cost-cutting is necessary in this difficult financial environment,’ Crain Communications Chairman Keith Crain wrote Tuesday in a memo to staff. He added that, ‘by taking these measures now we’ll position ourselves to weather the economic crisis.’

“None of the job cuts will come from Crain’s Detroit office, said Mary Kramer, publisher of Crain’s Detroit Business. A spokeswoman for the company, Colleen Robar, declined to say how many jobs will be eliminated companywide, but one industry report put the total at 150.

“The family owned, privately held publisher has more than 1,000 employees in 16 offices worldwide, Robar said.”

Read more here.