Today Media takes steps to address COVID-19 challenges
Today Media, the publisher of Delaware Business Times and a number of lifestyle publications including Delaware Today and Main Line Today, announced on Friday that decreases in advertising revenue nationwide have it focused on protecting its employees as well as the business. The company instituted a furlough program in which many employees’ schedules will be reduced, most by one week a month. At the same time, senior managers are taking significant salary reductions. Today Media employees will continue to receive benefits during the furlough program.
“This decision was not easy to make, but like so many other companies in Delaware, we’ve been affected by the COVID-19 crisis,” said Today Media President and CEO Robert Martinelli. “We are still covering stories that matter, highlighting how other companies are pivoting to both survive and position themselves for success when we come out of this. I want to thank the entire Today Media team for their dedication and for the commitment to our readers and their communities that they will continue to demonstrate as we work through this.”
A number of other local media publishers have been addressing similar challenges through a combination of layoffs, furloughs, pay cuts, and expense reductions.
“Like many others, we believe we will get through this together,” Martinelli said, “and the response from our employees today was overwhelmingly positive.”