Gray Television: No Cuts In Pay Or Benefits
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.”