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Fox Corporation Imposes Temporary Executive Pay Cuts Amid Coronavirus Pandemic

10.07.2020 - 15:03

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deadline.com

deadline.com:

By Nellie Andreeva Co-Editor-in-Chief, TV Fox Corporation is the latest major media company to implement cost-cutting measures to mitigate the impact from the COVID-19 pandemic.

The company is imposing temporary across-the-board pay cuts for executives VP and above. Executive Chairman and Chief Executive Officer Lachlan Murdoch just made the announcement in an internal memo.

Read it below. Fox Corporation’s Named Executive Officers – Rupert and Lachlan Murdoch, John Nallen, Viet Dinh and Steve Tomsic– will forego their salaries through September 30, 2020. (Salary reductions increase progressively from 15% for VP level to 50% for the remaining direct Lachlan Murdoch reports.) Raises throughout the company are suspended, including for the