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Mediaset execs take pay cut to safeguard group’s finances

Broadcaster said execs are taking a "sizeable" cut in pay during 2020

Italian broadcaster Mediaset has announced its senior executives have taken pay cuts as part of efforts to safeguard the group’s finances during the coronavirus crisis.

While not revealing figures, Mediaset said its executives would be taking a “sizeable” cut in pay during 2020.

The broadcaster added approximately 1000 technicians, journalists and other members of staff had remained on “the front lines” during the pandemic in Italy.

As part of company’s efforts to cut overall wage costs, Mediaset has submitted a claim to a temporary aid scheme put in place by the Italian government to help companies through the coronavirus emergency, allowing employees to receive their full salary despite reductions to working hours.