Contentsutra has an interesting package on the salary cuts at Bennett, Coleman & Co. Ltd (BCCL), India’s richest media company that publishes The Times of India and The Economic Times. It includes a copy of the letter sent by BCCL CEO Ravi Dhariwal to employees announcing salary cuts, an interview with him and an analysis of what went wrong. From the letter: Starting May-June last year, the first road bump in the form of newsprint prices hit us. We started paying between 60-70% more for newsprint than we had been paying previously. This depleted our profitability to less than half of what we had enjoyed previously. We saw some of it coming, and took necessary steps to mitigate it as much as possible. Small cover price increase, rationalization of pages, strictly incurring only necessary costs were our focus then. By doing these, we were able to keep ourselves profitable though at a reduced level during the first three months of August, September and October. Actually Octob...