IDG to cut some salaries 10% to put end to layoffs
International Data Group, the Boston technology publisher, has decided to cut salaries 10 percent for many of its employees in order to avoid further layoffs, according to sources familiar with the company.
Like other publishers, IDG has been hard hit by the global economic recession. The company, best known for publishing trade publications like ComputerWorld and CIO magazine, had laid off a small percentage of employees in recent months to cope with declines in advertising and other revenue.
Sources confirmed the move affected workers in IDG's media unit, but some other parts of IDG were apparently spared. A spokesman for IDG's research unit, International Data Corp., said it has no plans to cut employees salaries by 10 percent. The company's venture capital unit did not immediately return calls seeking comment. IDG spokesman Howard Sholkin declined to comment.
Overall, IDG has more than 13,000 employees worldwide, including roughly 800 in Massachusetts.