Thank you for being there when it counts most.
The COVID-19 pandemic is more than a news event. It’s an unprecedented series of events. Its impact is widespread, touching everyone and dramatically altering our way of life. It’s also having a profound impact on our business – a business that depends on serving our readers, our advertisers, and our communities.
No one foresaw the challenges this pandemic would bring but you have all reacted with incredible creativity and resiliency and have managed to deliver your best work under difficult circumstances.
Our newsrooms are navigating some unfamiliar situations to deliver outstanding local news coverage that our readers trust. And because of their passion, hard work, and dedication to journalism, we are keeping our communities informed and engaged. Our readership is stronger today than it’s ever been.
Our audience team is working diligently to convert into subscribers the many new readers who have engaged in our breaking news alerts, live video chats, and coronavirus newsletters. We’ve seen an uptick in our digital-only subscriptions.
Our advertising staffs are working even closer with local businesses to support them as they reach out to their customers and sustain their businesses. Local business continues to depend on us to deliver the largest local print and digital audiences, and we do.
Our printing, production and distribution operations have implemented new processes to keep our production and distribution centers safe for our employees and readers. And, we continue to communicate to our readers the ways we are staying safe.
I’m proud of the way we have met this challenge as a company; for the swift action and incredible response to a shifting workplace in this time of uncertainty. We’ve come together, and we’ll continue to require each other’s support in the weeks and months ahead.
Unfortunately, even our best efforts cannot overshadow the fact that our advertising revenue has been dramatically impacted now and for the near future. To ensure our own sustainability, it’s important that we manage the economic impact to our company. The sacrifices we make now will minimize the long-term damage the pandemic could have on our business.
Consequently, we are implementing a combination of pay reductions and furloughs. In the third quarter, the executive team will be taking a 20% reduction in pay on top of a pay reduction implemented in Q1. All other employees will be subject to either a pay reduction or furlough equivalent to two weeks of salary also in the third quarter.
We do not take these actions lightly and fully understand the sacrifices being made. Our goal is to ensure we weather the difficult days ahead and emerge stronger together with opportunities to grow our business when the pandemic passes.
I am truly grateful for your ongoing hard work and commitment to Lee.
If you have any questions, please reach out to your human resources representative or to Astrid Garcia. Astrid will be sending out more details later this morning.
Thank you, be safe and stay well.
Regards,
Kevin
Kevin Mowbray
President and Chief Executive Officer
Lee Enterprises Incorporated
4600 E. 53rd St.
Davenport, IA 52807
563.383.2104, kevin.mowbray@lee.net
