The Guardian News & Media (GNM) editor-in-chief, Alan Rusbridger, has made his ten per cent pay cut public, following public comments by the National Union of Journalists (NUJ) about Guardian executive bonus payments at a time when cuts are being made at regional newspapers within the Guardian Media Group (GMG).
Earlier this week the NUJ published a full page advert in the Guardian which said there were “devastating staff cuts to service the ongoing expansion of the Guardian – which is losing many millions but still paying executive bonuses.”
An article published today on MediaGuardian.co.uk reports that Rusbridger is not part of the GMG bonus scheme and had last year informed the Scott Trust, owners of GNM’s parent company GMG, of his plans to take a pay cut.
The article states that Carolyn McCall, chief executive of GMG, had told the company’s remuneration committee in January that she would not take a bonus for the 2008-9 year.
“”Ordinarily such information would only be made public when GMG’s annual report is published in the summer. However, as the group’s two most senior executives, and in light of recent comments by the NUJ, they felt it was appropriate to inform the [union] chapels,” a GMG spokesman said.”
As part of the pay freeze announcement in February GMG said that it would not pay financial performance bonuses for the financial year 2008-2009, ‘which form the larger part of overall bonuses,’ it continues.
“But its remuneration committee – which consists of independent directors and the chair of the Scott Trust – decided that bonuses based on the achievement of personal objectives could be paid.”
GMG has suspended its bonus scheme for this financial year, the article reports.