Daily Mail and General Trust (DMGT,) parent organisation to DMG Media, has offered 2,400 employees shares within the business.
The senior management team is offering this alternative approach to employees working within its group of businesses including Daily Mail, Metro, and MailOnline, to avoid making redundancies or furloughing employees
Employees earning £40,000 or below will be able to take a pay cut of 1% to 26% in exchange for shares within the parent business, effective immediately.
This means that at the end of the financial year, employees that opt-in for shares, could make a profit. However, if the share price is lower than when the shares were awarded, employees who wish to sell, will be compensated by the organisation.
Paul Zwillenberg, chief executive at DMGT, said: “I would like to offer my sincere thanks to all our employees, customers, business partners and their families for their amazing work, flexibility and loyalty at this difficult time.
“The health and wellbeing of everyone who produces or consumes our products is paramount and we are committed to doing everything we can to keep them all safe.
“These are not normal times, but I have been truly inspired by the ability of all DMGT’s organisations to adapt to the current restrictions and maintain their standards of excellence.”