Freedom Communication announces pay cuts

IRVINE, Calif. — Freedom Communications, Inc. announced a five percent across-the-board  reduction in base pay today for employees at all levels of the company.

The reduction is effective July 13.

Freedom is the parent organization of Freedom New Mexico, which includes the Clovis News Journal, Portales News-Tribune and Quay County Sun.

Freedom New Mexico Publisher Ray Sullivan also today announced publication of the Quay newspaper will be reduced from twice-weekly to once a week to help further reduce costs.

 Effective Aug. 5.,  Sullivan said Quay will cease the Saturday edition and only publish each Wednesday.

“We are facing the challenge of a general economic situation that experts say will continue to remain weak for many months to come,” said Burl Osborne, Freedom Communications CEO. “In this very difficult climate we need to continue to reduce expenses, and we determined that the fairest way to accomplish this with the minimum impact on operations is the action we are announcing today.”

“This is a painful but necessary step as we continue the transformation of our company while delivering our valuable products and services to our customers, advertisers and communities,” Mr. Osborne added. “Our goal is maintaining a healthy business with a combination of cost initiatives and a focus on revenue while we weather the economic storm.”

Osborne said  continuation of a company-wide furlough program instituted during the previous quarter had been considered. But it was decided action announced today was the best way to reduce both uncertainty on the part of company employees and impact on operations caused by furloughs. 

Freedom Communications, headquartered in Irvine, Calif., is a national privately owned information and entertainment company of print publications, broadcast television stations and interactive businesses. The company's print portfolio includes more than 100 daily and weekly publications, including just over 30 daily newspapers, plus ancillary magazines and other specialty publications.