Fortune CEO Murray declines request for additional severance
Fortune magazine CEO Alan Murray sent Tuesday the following email to the union that represents its journalists after the union asked for more severance pay for the laid-off workers it represents:
Members of the Fortune Union,
Thank you for your thoughtful note in response to our recent difficult decision to downsize our workforce. As I explained in the town hall two weeks ago, it was a very painful conclusion to reach, and we are very sad to lose so many valued colleagues. I certainly understand and respect your concern for their welfare in these difficult times.
The severance packages Fortune has offered are consistent with media industry standards, and reflect the duration of respective employees’ service.
We sincerely think our departing colleagues for all their hard work and dedication. We understand this is a particularly challenging time for them, given the economic environment, and we will do all we can to support them during that transition.
As you know, I am available to discuss your concerns at any time.