Tampa Bay Times ends temporary 5 percent pay cut for staffers, starting July 2
No one can deliver this news better than Times Publishing Co. CEO and Chairman Paul Tash, so here's the text of his memo to staff about the end of the pay reductions implemented last year, announced at a 2 p.m. meeting today:
From Paul Tash
I am delighted to report this news: We are ending the temporary 5 percent pay reduction we put in place last September. The change takes effect Monday, July 2, and will show up in paychecks on Friday, July 13.
The Tampa Bay Times continues to attract new readers, and there are encouraging signs that advertisers are following them to Florida's favorite newspaper. This decision represents a bet that we can keep those trend lines headed in the right direction, and that we can keep finding ways to reduce other expenses.
With pay restored, of course, we will provide no more extra days off, but we are giving staffers an extra month --- through June 30 -- to use any days they have remaining.
In this fragile economy, I cannot promise that there is only smooth sailing ahead. But your dedication and commitment have kept the Times moving forward, no matter what. I thank each of you for your contributions to our collective success. Now, let's redouble our efforts to accelerate our gains.