You are viewing your 1 free article this month. Login to read more articles.
Media group Pearson has frozen all 2009 pay rises for all of its employees, including the Penguin Group, and Pearson Education, who earn more than £30,000, or $50,000, or the local equivalent.
A spokesman for the company confirmed that the measure applied to those working in Pearson subsidiaries in the UK as well as in the US and other territories. Reports of the freeze have so far concentrated only on the FT, also part of the Pearson Group.
The spokesman said: "For those people [earning above £30,000], there will be no annual raise or increase in their salary. This is a measured step in light of challenging economic circumstances and uncertain economic climate in 2009, to control costs next year."
The spokesman added Pearson had not frozen recruitment in any of its divisions, and that no redundancies were planned. "This measure is designed to make other measures less likely," he explained.
Penguin declined to commen on the development.