Quibi Qui-Boned

Photo: QuibiAfter a lukewarm launch and less-than-encouraging revelations about the company’s subscription figures, Quibi’s senior executives will take pay cuts as the short-form streaming service looks to cut costs.Quibi’s chief executive Meg Whitman and its founder Jeffrey Katzenberg will each take a 10 percent hit to their salaries, according to a copy of an internal…

Quibi Qui-Boned

Photo: QuibiAfter a lukewarm launch and less-than-encouraging revelations about the company’s subscription figures, Quibi’s senior executives will take pay cuts as the short-form streaming service looks to cut costs.Quibi’s chief executive Meg Whitman and its founder Jeffrey Katzenberg will each take a 10 percent hit to their salaries, according to a copy of an internal memo shared with Gizmodo. In that correspondence, Katzenberg and Whitman wrote that the company was looking “for ways to tighten our belt,” but said that Quibi was “in a good financial position” and said the company has recently brought on “a dozen” new employees. “In regard to tightening our belt, our senior leadership team has volunteered to take a 10% pay cut because it’s the right thing to do,” Katzenberg and Whitman wrote. “We are excited about the future. As we shared in our most recent company meeting, the best is yet to come. We are confident in Quibi and the work that you are creating every day.”They further said that Quibi is “not laying off staff as a part of cost saving measures.” However, that messaging appears to conflict with a report from the Wall Street Jour
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