In an internal memo obtained by Alley Insider, online advertising network and startup bellwether Glam today told employees that despite the recession, the company’s share of the online advertising market has held up this Q4 better than management expected.
There won’t be any layoffs, is the gist.
Instead, executives will take a 25% to 60% pay cut and the company’s other employees will see as much as 10% of their compensation change to “a variable commission based model.”
How’d Glam do it? Little exposure to or prior success with auto, finance and marketers targeting men helped. So did the fact that many of Glam’s clients marketing consumer-packaged goods to women already spend so little on the Web — around 2% of their overall budgets — that there wasn’t much room to cut. TV and print got whacked instead, according to Glam’s memo, which we’ve embedded here:
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