To document and show the impact of the outbreak on the media industry, the news site Poynter began updating media layoffs, production cuts and so on (mainly in the United States) since the end of April.To this day, we see a long list of paper media, television, radio, new media, including old giants like The New York Times, and Monterey CountyA local newspaper like Monterey County Weekly. Vice On March 30, vice Media announced at a staff meeting that it would no longer offer 401K insurance plans to employees and would freeze all promotions by July. In addition, the company announced that employees with annual salaries of more than $100,000 will receive pay cuts, some executives will receive mandatory leave of 20 to 25 percent before the company survives the storm, and Nancy Dubuc, the company's chief executive, will receive a 50 percent pay cut. BuzzFeed On April 16, CNN's Oliver Darcy released a memo revealing that BuzzFeed would suspend the morning show AM to DM on April 28 because Twitter had canceled its sponsorship of the show.
"I am truly saddened and sorry for these changes," BuzzFeed executive Cindy Vanegas-Gesuale wrote in the memo. We will do everything we can to restore our partnership with Twitter and keep the team as long as possible. " Twitter, which is affected by its advertising revenue, also said in an interview with CNN that it would "continue to work with BuzzFeed on other content." NBCUniversal On May 5, Jeff Shell, chief executive of NBCUniversal, said in a letter to employees that the company would cut executive pay by 20 percent and employees with annual salaries of more than $100,000 by 3 percent in response to the financial impact of the new crown virus pandemic. "In order to deal with this serious crisis and its impact on our company, we need to address the cost issue," Shell wrote in an internal letter. In addition to pay cuts and withdrawals, spending on travel, entertainment budgets and external consultants will also be reduced. CBS Similarly, CBS has been hit hard. Susan Zirinsky, the company's president, said at a May 27 plenary meeting that the company had to implement a new round of cost-cutting measures, which would result in about 10 percent of people being laid off.
"Everyone was shocked." A CBS News employee told reporters. "Due to the economic impact of the outbreak and the cost-cutting program that began after the merger of CBS and Viacom, the company's top management had to make some extremely difficult decisions," Zirinsky said in a letter before the meeting. "
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