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Home > Book Trade News > Penguin Freezes Raises For Those Above $50,000

Penguin Freezes Raises For Those Above $50,000

Posted at 8:13PM Thursday 04 Dec 2008

Penguin Group chairman and CEO John Makinson sent a memo to all employees Tuesday, a year-end summary that had some positive remarks but was largely somber. Among Makinson's announcements: the company will not give pay raises to anyone earning $50,000 or £30,000 or more (or the equivalent in another currency) in the new year.

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