Media General is forcing it’s employees to take 10 days unpaid leave, or a furlough.
The company also announced that it was suspending its matching contribution on its 401(k) plan in April through the end of the year. The Board of Directors also suspended the dividend on its common stock.
These actions, together with the furlough, is supposed to provide an additional $28 million in 2009 for the company to go towards debt reduction.
My question is this, will Marshall N. Morton, Media General’s President and Chief Executive Officer be involved with taking those same days off? Will any of the Board of Directors be involved in the “program”? Upper managers? Middle managers?
You won’t hear that in the press release!
FUCK YOU, VERY MUCH!