TORONTO – In a memo to employees on Friday, CanWest Global’s interim TV president Peter Viner froze all salaries and expenditures until the end of the fiscal year as well as saying her personally must approve many expenses.
“As you know, our industry – and indeed, all industries – continue to face economic challenges. Over the last several months, the Broadcasting leadership team has been doing everything possible to adapt to these unprecedented changes. Canwest’s long-term health will depend on our shared commitment to innovate and invest wisely, while ensuring we maintain a cost structure that is in step with the changing economic environment,” reads Viner’s e-mail.
Hiring, travel, salaries, entertainment expenses, and conference attendance have all been frozen. Even couriers must be limited in their use and same-day service must be first approved by a senior executive.
All marketing and promotional activities will be reviewed and re-evaluated and consultants are now out. The company is also limiting the use of mobile devices with the objective of limiting data usage and reducing the number of units by 20-25%. Staff are to use landlines wherever possible.
Energy consumption is also being looked at and Viner even asked his people to refrain from printing too many documents and to cancel subscriptions.
Employee events like the company’s hockey tournament has been cancelled for this year and Viner also noted that he is open to employee requests for unpaid leave in addition vacation time off.
“Just think – if every Canwest employee could save $1,000, the collective savings to the company would amount to $10,000,000!” added Viner’s memo.
“Actions of this nature are never easy, but they are necessary in order to ensure that we are able to remain strong in the face of a changing economic environment.”
– Greg O’Brien
