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Yesterday Radio One issued a letter to the staff announcing that they had to reduce base compensation/wages by 10% or 20% depending on the employee’s salary. Employees making $100,000 or less get a reduction of 10% and those making more than $100,000 get a reduction of 20%. The reductions will be reflective in employees’ paychecks starting April 24 until further announcement but a tentative date has been set for Sept 30, provided business returns to normal. Entercom and several other radio corporations are making the same changes in order to save jobs.
