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Mar 7, 2008

Bloomberg freezing top salaries?

Bloomberg imposed a salary freeze for about 20 percent of its editorial staff that makes more than $200,000 a year, according to reports from the New York Post.
But as employees brace for other cuts that could be on the horizon, the report says some staffers are not happy about a salary freeze in the midst of renovations nearing about $50,000 for Editor-in-Chief Matt Winkler's office and conference room.
In the story, a Bloomberg insider who wasn't in the $200,000-a-year bracket, supported cutting costs by freezing the salaries of the company's top-paid employees.
"I haven't seen there is a freeze yet, but if there is one at the top, I'd applaud that and consider that equitable," the insider said. "Usually, in tough times, it is the guys at the bottom who are cut, while the guys at the top continue to get rewarded."
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