This hurts. Long-suffering staff at ACP Magazines might have thought German group Bauer would sweep a new broom through the place, but it’s the same old cost cutting.
CEO Matthew Stanton had to deliver the bad news in an internal memo this morning that pay rises are still in the deep freeze:
Monday, 11 February 2013
Get Crikey FREE to your inbox every weekday morning with the Crikey Worm.
In June last year, I wrote to all staff to advise that salary reviews were to be deferred across the business until early 2013 and indicated that we would review the position in January.
The market continues to be particularly challenging for the media industry and it is important that we act responsibly and manage our cost base for the future sustainability of the business. In this context, I have determined that salary reviews will continue to be deferred across the Bauer Media Group in Australia and New Zealand.
I understand that this is not an easy message to receive and I sincerely appreciate the ongoing efforts of all staff during an unprecedented time of change in the industry.
Our vision is clear in working towards being one of the most innovative and successful publishing companies in the world. In order to continue on this path, it is critical that we work together to do whatever is possible to ensure our future viability and success.
Please liaise directly with your manager should you have any questions or like further clarification on any of the above.
Staff are said to be miffed. To say the least.