Wilks Chops Salaries, Commissions, Bonuses By 5%
June 2, 2009 at 10:52 AM (PT)
ALL ACCESS has learned that WILKS BROADCASTING President JEFF WILKS was at his KANSAS CITY cluster, delivering some sobering news to the staff about compensation.
"Effective JUNE 1st, we will be reducing base salaries and pay rates of all WILKS BROADCASTING employees by 5%, but offsetting this pay reduction by closing the company's offices at 12:30PM every FRIDAY from JULY 10th through SEPTEMBER 4th for non-sales employees. We will also be reducing the draws and commission payments of sales employees by 5%." He confirmed that bonuses will also be reduced by 5%.
WILKS blamed the economy: "Reducing employee pay is a difficult step that is not taken lightly and such an action is done only in the most difficult of business environments. Unfortunately, we are in just such an environment."