As part of its layoff and furlough plan, WFAN’s parent company, Entercom, has asked its top hosts from Mike Francesa to Boomer Esiason and Gregg Giannotti to take 20-percent pay cuts and forgo bonuses through near the end of July, The Post has learned.
Sources said Entercom’s COO Susan Larkin had a conference call with WFAN staff Thursday morning in which she laid out that contracted employees, like Francesa, Esiason and Giannotti, that make $250,000 or more will be asked to take a 20-percent pay cut.
Those in the $100,000 to $250,000 range will be requested to accept a 15-percent reduction.
Those in the $50,000 to $100,000 range will be asked to take a 10-percent cut.
Entercom’s CEO, David Field, said he would be taking a 30-percent cut in a memo first reported by the site, Radio & Television Business Report.
Those without contracts will have no choice but to accept the new financial stipulations. Those with contracts could decline or negotiate new terms.
Besides the furloughs, FAN will also have layoffs. Entercom laid off hosts at other stations on Thursday, but it is not known if anyone in New York will be a part of them. The reduction that Entercom plans to enact would be in effect, at this point, until July 23.
Entercom declined comment.
Source: Read Full Article