Posted by Beep Beep on March 24, 2009 at 18:19:14:
WW1 Cuts Payroll: A salary reduction plan and streamlined staff levels are being implemented at Westwood One as the company continues its efforts to better align revenue and expenses. Compensation adjustments will be based on a sliding scale, with senior management taking the biggest hit at 15%. These changes, combined with reduced aviation costs at Metro Traffic and performance-based accountability standards are expected to result in annual savings of $55-$63 million.