Fox Corp. Rolls Back Pandemic Pay Cuts

Lachlan Murdoch - Allen & Company Sun Valley Conference - Getty - H 2020
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Fox Corp. CEO Lachlan Murdoch.

"The sacrifice you have made over the past several months has allowed us to protect our full-time colleagues," Fox chief legal and policy officer Viet Dinh wrote to staff.

The pay cuts spurred on by the novel coronavirus pandemic are beginning to wind down.

While the entertainment industry continues to be hamstrung by postponed productions, shuttered movie theaters and closed offices, one of the largest companies in the sector is nonetheless rolling back the cuts, which were instituted in the first few weeks after states began issuing stay-at-home orders.

Fox Corp. told employees in April that everyone at the VP level or above would see their pay cut by 15 percent through the end of July. In an email to staff last month, Fox chief legal and policy officer Viet Dinh wrote to staff confirming that pay would be returned to normal effective Aug. 1.

"The sacrifice you have made over the past several months has allowed us to protect our full-time colleagues with salary and benefit continuation," Dinh wrote. "For that, we all thank you."

Named senior executives, including Dinh, Rupert and Lachlan Murdoch, and CFO Steve Tomsic, are forgoing their entire salaries through the end of September.

Fox also recently told employees that it would cover premium payments on employee health plans through the end of the year.