Adland: To survive COVID-19, we need to take 40% pay cuts, now

Client spending could drop by 40%, minimum, within four weeks. So to survive this pandemic, and its impact on our businesses, adland employees – of all levels – need to be willing to take a 40% pay cut, argues Chris Savage.

If our industry is to make it through this crisis, and we’re to keep our jobs, we need to swallow bitter medicine.

This is what it tastes like: We need to volunteer now to take a 40% pay cut. Awful tasting medicine, indeed.

Maybe in your business, it’s 15%. 20%. Whatever. The message: Be open to taking a reduced salary for a few months.

Be a member to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Become a member

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

"*" indicates required fields

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.