DES MOINES, Iowa (The Des Moines Register) — Magazine publisher and multimedia company Meredith Corp. has announced it will temporarily reduce pay for nearly two-thirds of its employees as it copes with plummeting advertising revenue caused by the coronavirus pandemic. The Des Moines Register reports that the pay reductions will begin May 4 and last through Sept. 4. The company said about 45% of its employees will see a 15% pay cut. The highest-paid employees will have pay reduced between 20% and 40%.

Company spokesman Art Slusark says no corporate or national media group employees earning less than $75,000 a year will have their pay cut. That includes employees in Des Moines, where Meredith is based.