Pay cut looms for newspaper staff

Management at media group Thomas Crosbie Holdings has asked staff at the Irish Examinerand Evening Echonewspapers to take a 5 per cent pay cut from next month.

TCH chief executive Tom Murphy confirmed that employees at the two newspapers were being asked to take a pay cut of 5 per cent from April 2nd.

The move is due to falling advertising revenue and ongoing financial difficulties at the company.

The proposed cut comes on top of previous staff pay cuts averaging 8.5 per cent in 2011 in addition to a pay freeze in 2010 and cuts to expenses paid to staff.

The company also abolished the profit share in 2010, which was worth up to €3,000 to each employee, while defined benefit pensions have also been cut.