Ziff Davis Enterprise cuts salaries

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New York—Ziff Davis Enterprise, publisher of eWeek, is reducing salaries by 10% throughout the summer for employees earning more than $50,000 annually, according to an internal memo from Steve Weitzner, CEO of the company.

In exchange for the salary reduction (which will be in effect from June 1 to Sept. 4), these employees will work summer hours: Friday afternoons off. Employees earning less than $50,000 have the option of working a full week for full pay, or taking summer hours for the same 10% reduction in pay.

Weitzner said in the memo that the move was designed to preserve jobs: “I want to keep our staff, yet we must still remove some expense to offset the softness that continued through the second quarter and that I anticipate for July and August.”

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