Radio One Undergoes Salary Reductions
April 1, 2009 at 10:43 AM (PT)
As first tipped YESTERDAY (MARCH 31st), RADIO ONE sent out individual letters to all its full-time employees asking them to take a voluntary pay cut of 5%. Those with individual personal services contracts were asked to temporarily forgive or delay any percentage increases based on performance bonuses.
According to our sources, RADIO ONE sales are down as much as 30%. Sales people at RADIO ONE have already taken a cut. The remainder will revert to a 100% commission basis. The adjustments will remain in effect until further notice.