From: Tribune Communications
Sent: Wednesday, September 29, 2010 4:13 PM
Subject: Message from Randy and Gerry/Employee Compensation
Tribune has made a lot of progress over the last two-and-half years - thanks largely to your efforts. We're more innovative, we're working smarter and more efficiently, we're collaborating across the company, and we're focused on serving our customers as never before. We've introduced new products, strengthened our existing products, started building scalable technology and editorial systems to better use our resources, and developed some unique new streams of revenue. Although there is a lot more to do, our financial results through the first six months of this year are a clear demonstration that we are headed in the right direction. We are transforming this company in a technological era that is changing with every new day.
While the downturn in the economy and the realities of new media competition have compelled us to be extremely vigilant about managing expenses, we know that it is important to recognize the contributions and the sacrifices of our employees in a meaningful way. So, as we begin the process of budget planning for 2011, we are allocating financial resources in the amount of approximately 3% of total compensation in order to fund merit increases for non-union employees across the company. Individual increases for employees will be based on job performance and local market factors as determined by your manager. These increases will be made effective in the first quarter of next year as part of our individual employee performance reviews.
Thank you for helping re-engineer Tribune. The fourth quarter is traditionally our busiest time of the year, so let's keep at it. There is a lot of opportunity ahead if we continue to work together.
Randy and Gerry
SOURCE: Jim Romenesko