RTE stars facing huge salary cuts to plug €34m hole
RTE's top stars are facing their biggest pay cuts yet.
With Montrose bosses attempting to regain financial stability, some of the best paid presenters in the country will be subjected to pay cuts of up to 30pc from their peak in 2008.
Top stars including Pat Kenny, Ryan Tubridy, Miriam O'Callaghan and Marian Finucane are just some of the names who will have their pay slashed.
Director General Noel Curran has revealed that he intends to cut pay in a bid to regain some of the €34m deficit this year.
RTE bosses are predicting a €17m deficit this year after the savings are made -- and they expect to only regain financial stability in 2013.
"RTE's respect for the talent and professionalism of its frontline presenters is considerable," he explained. "However, financial constraints dictate that the fee levels must reduce markedly from those applying in previous years. In 2009, an undertaking was given to reduce significantly the fee levels applying to the top 10 earners as contracts came up for renewal.
"RTE intends that by the time all the existing contracts have been revisited, by end 2013, the payments total will have reduced by in excess of 30pc relative to the 2008 levels."
Mr Curran has recently met with employees to explain the details of the pay cuts, as well as introducing a new voluntary redundancy scheme.
Although Pat Kenny has already taken a significant pay cut since he left his Late Late Show hosting duties in May 2009, a cut of 30pc to his 2008 salary would mean a drop from €950,976 to €665,683.
He told the Herald this morning: "I have no comment to make whatsoever." His current salary is estimated at €765,000.
Marian Finucane's pay would be reduced from the 2008 figure of €570,000 to €399,000.
The 2fm star and current Late Late Show host Ryan Tubridy, who will be double jobbing for an eight-week stint with the BBC this summer, will see his pay cut too.
Liveline host Joe Duffy was paid €408,889 in 2008, so the 30pc pay cut would bring his salary down to €286,222.
Miriam O'Callaghan, earned €301,667 in 2008, meaning her pay would be cut to €211,167 and Derek Mooney's €286,809 would be slashed to €200,767.
Mr Curran has blamed the global recession and moves in last December's Budget as some of the reasons for the burdens, totalling €20m this year.