Pay cuts loom at 'Examiner' and 'Post'
Published 03/11/2011 | 05:00
STAFF at the 'Irish Examiner' and 'The Sunday Business Post' are set to be hit with more pay cuts as the newspapers' parent company looks for more cost savings.
Thomas Crosbie Holdings (TCH), which owns the two titles, will update staff on the financial position of the company within the next two weeks and 'ask' staff to participate in another round of cost savings.
Company sources said senior management had taken a 10pc hit on pay from the start of September and it was "unlikely that staff would have to take a reduction of that magnitude".
TCH posted a €2.95m operating loss in 2009 and has sold or closed a number of peripheral titles.