Many communicators are working overtime to deliver messaging to consumers and citizens during these turbulent times. Still, many businesses may take a financial hit as the stock market plunges and the public is urged to stay home. As companies slice budgets, marketing and communications usually are some of the first to downsize.
To counter job cuts, Matt Rizzetta of North 6th Agency urges fellow CEOs to take a 50 percent pay cut through at least the end of QII 2020. The COVID CEO Pledge urges agencies to keep funds in reserve to preserve staff jobs.
"Taking the pledge will send the right message to our employees, our industry and the broader global business community: We leaders are willing to take a short-term salary cut in order to preserve or stimulate job growth in our industry during this delicate period in which our people face so much uncertainty and potentially lasting financial consequences," he said.
Leaders are stepping up. "We've already received pledges totaling several million dollars in annualized salaries," he said.
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