Gray Television: No Cuts In Pay Or Benefits

CEO Hilton Howell tells employees: “We do not believe that we will need to furlough employees; lay off employees; reduce hourly or salary compensation levels; nor suspend, delay or reduce contributions to employees’ 401(k)s.”

Gray Television CEO Hilton Howell on Monday reassured Gray employees that the company does not anticipate cutting their pay or benefits during the COVID-19 pandemic, which has disrupted the economy and is battering the advertising revenue of all broadcasters.

“[W]e do not believe that we will need to furlough employees; lay off employees; reduce hourly or salary compensation levels; nor suspend, delay or reduce contributions to employees’ 401(k)s,” he says in an email.

“In addition, we do not plan to reduce paid time off, health care, EAP, dental, vision or any other employee benefit. In fact, last month, we suspended certain benefit caps, deductibles and fees related to the coronavirus.”

Howell pointed out that Gray did not cut pay or benefits during the Great Recession of 2008-09.

“We are very hopeful that the tough sacrifices being made all around this country (and the world) will be rewarded sooner rather than later. Like you, we remain optimistic that the country emerges from this crisis and local businesses return to work in the next several weeks.

“Throughout this, we will continue to review all of our operations and make adjustments when necessary.”

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2018bstyrevr says:

April 7, 2020 at 8:46 am

So lets get this straight..The company’s stock, another words , the $$ that were invested by people to grow their portfolios by putting faith in this company is down 35% from the time this shutdown started..This company’s stock is trailing the Dow by being down 35% and the Dow is down 24% and this guy is going to not cut expenses….Wow…..I have news for him ..Despite what he thinks the American public have less and less use for fake news local and network television..His Stock will never recover..He needs to go now!!!!

RIDGELINE-TV says:

April 7, 2020 at 2:21 pm

Does anyone find it ironic that @2018bstyrevr always rails and whines about “fake news” after being busted for spreading fake news on this site a few days ago? Yeah, too funny!

As for Gray, I respect the fact that they are trying to look out for their workers – a stark contrast to many corporations.

2018bstyrevr says:

April 8, 2020 at 7:47 am

Hey Ridgeline..Its not about fake news..Listen Einstein… this company has shareholders to look out for..Do you know what a shareholder means???


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