BREAKING! Meredith to Cut Employees Paychecks (Patreon)

Meredith sent an internal memo to their employees and it was not good news, not good at all. 

The company said that while viewership is up and web traffic is up, they are going to be cutting employees pay for those that make more than $50,000 a year. 

"Beginning May 4 and running four months through September 4, we will be implementing a reduction in pay program," the memo obtained by FTVLive stated. 

Employees making over 50 grand to 100 grand will see a 15% pay cut. The cuts will get deeper  for those making more. 

The company has also issued a hiring freeze and "Mandate our vendors, consultants, and service providers significantly reduce their fees."

Here is the memo that was sent to the staff and obtained by FTVLive: