NBCUniversal is cutting the pay of its senior management by 20% and rolling back pay by 3% for employees making more than $100,000 in response to the financial fallout from the coronavirus pandemic, Chief Executive Jeff Shell said in a memo to staff Tuesday. “In order to deal with the depth of this crisis and its effect on our company we need to address our cost base,” Mr. Shell wrote. Besides pay cuts and raise retractions, Mr. Shell said, travel, entertainment budgets and the use of outside consultants will also be reduced.

Source: Wall Street Journal May 05, 2020 17:50 UTC