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Bonneville Seeks Cost Cuts Through Salary, Benefit Reductions
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Broadcast owner Bonneville International is seeking to cut costs, and employees are feeling some of that pain.
“In response to sustained, slow economic indices and market conditions that are producing below-projected revenues industry-wide, Bonneville International today announced to its employees a series of cost-reducing measures designed to trim operating expenses while at the same time continuing to produce high-quality products for its audiences and clients,” according to an announcement from the company Thursday afternoon.
“Among those measures implemented are salary reductions for its higher-paid employees, adjustments to vacation accruals and carryovers, elimination of company-participation health club memberships and a reduction of holiday remembrances for employees.”
President/CEO Bruce Reese said the moves are “reasonable and necessary to maintain the health of our company and its valued employees. While we’re privately held, we’re not immune from today’s economic realities. Our ownership is not short-term in its approach to our business.”
The company, based in Salt Lake City, has stations in eight big markets.
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