BBC Institutes Management Salary Freeze, Bonus Cuts
January 28, 2009 at 5:30 AM (PT)
The BBC is not immune from financial trouble, as the company institutes a salary freeze and bonus cuts for 400 senior managers. The net effect of the freeze and bonus elimination will be up to a 12% cut in projected compensation for upper management. The freeze will be in effect until at least JULY 2010. Bonuses are also being eliminated for all BBC workers below senior management level, and BBC WORLDWIDE employees will be subject to a salary freeze but will be eligible for bonuses.
The BBC's executive management board previously gave up their 2009 bonuses.