The Recode media company will not be paying any staff salaries to its employees, the company’s chief executive announced Tuesday.CEO Jim Buckley said the company would continue to focus on growing the value of its content and on providing value for our customers, as well as our shareholders.CEO Buckley said that he had previously made the decision to cut back on executive compensation, saying that it was costing him too much time and money.
The decision to continue to be less generous with our staff is not a decision that we take lightly, Buckley said.
He said he would continue pursuing ways to make sure we provide value to our shareholders, customers, and the media and content industry.
We have always had a strong emphasis on value, Buckley continued, pointing to the company having the third-highest revenue per employee in the world.
“As we continue to build our brands, we have continued to focus our resources and resources on providing great content for our audiences and creating value for them,” Buckley said in a statement.
“In doing so, we remain focused on growing our businesses, increasing our revenue, and improving our efficiency and productivity.”
Buckley said that the company is now in a stronger position to meet the needs of our stakeholders, which include content creators, advertisers, content creators and distributors.
“We are now in an even stronger position than ever to support the growth of our businesses and the long-term success of our shareholders,” he said.
“As we move forward, we will continue to do the right thing by our stakeholders and the people of the United States.”
The announcement comes a week after the tech giant said it was severing ties with CNBC anchor Matt Lauer after allegations surfaced that Lauer had groped female colleagues and offered to pay them for sex.
Lauer was fired after an internal investigation revealed that Laxer had asked his former co-workers for sex and tried to coerce them into sexual activity.
The company said that it would conduct a full and complete internal investigation into the matter and announced that Larga would not be returning to the air.
Lack of transparency in pay and benefitsThe company is still waiting to see what kind of compensation Largas severance package will include.
But it is unlikely that it will be substantially more than what it is currently paying its full-time employees.
In an email to Recode, a CNBC spokesperson said that Larger has not offered to provide the company with any information about the severance packages Largassay will receive.
The company has been criticized by other media companies who have reported that they were not offered a severance and are also under fire for not making their staff fully transparent about their salaries.
Buckly’s decision to make his decision on severance a few weeks after Lauer’s termination has also raised questions about whether Largatas severation package will provide adequate compensation to staff.
The news comes as Largashaw has been under fire from some of his former colleagues, who have criticized his decision to keep Largacy in his job even after he was accused of sexual misconduct.