Wilks Chops Salaries, Commissions, Bonuses By 5%
June 2, 2009
WILKS BROADCASTING President JEFF WILKS was at his KANSAS CITY cluster, delivering some sobering news to the staff about compensation.
"Effective JUNE 1st, we will be reducing base salaries and pay rates of all WILKS BROADCASTING employees by 5%, but offsetting this pay reduction by closing the company's offices at 12:30PM every FRIDAY from JULY 10th through SEPTEMBER 4th for non-sales employees. We will also be reducing the draws and commission payments of sales employees by 5%." He confirmed that bonuses will also be reduced by 5%.
WILKS blamed the economy: "Reducing employee pay is a difficult step that is not taken lightly and such an action is done only in the most difficult of business environments. Unfortunately, we are in just such an environment."
You might remember Wilks Broadcasting Acquired The CBS/Denver Cluster CBS CORPORATION back on (12/22/08) to sell three of its owned radio stations in DENVER, Country KWLI, AC KIMN and Classic Hits KXKL, for $19.5 million in cash.
Wilks Broadcasting which owns locally KMXV 93.3, KCKC 102.1, KFKF 94.1 & KBEQ 104.3