The National Union of Journalists has welcomed news that Guardian News and Media editor-in-chief Alan Rusbridger has offered to take a pay cut – and the union has called on other newspaper bosses to do the same.

The Guardian reported that Rusbridger would take a 10 per cent voluntary cut in the 2012-13 financial year, from £438,900 to £395,010. His pension contribution will also be reduced.

NUJ deputy general secretary Barry Fitzpatrick said in a release:

“I welcome Alan’s response to the NUJ’s suggestion that he should take a pay cut and show a lead to executives within the industry at a time when many journalists face redundancy and pay freezes. I hope that others including Sly Bailey, chief executive of Trinity Mirror, and Richard Desmond owner of the Express newspapers, will now be following suit.”

Trinity Mirror investors have expressed concern about Bailey’s pay package, almost £1.7 million in 2010. The company’s share price has fallen by 87 per cent in the past decade.