Daily Caller: CNN is reportedly set to impose a “net 90” payment term on freelance employees beginning in June, meaning the company’s freelancers will be paid just once every three months.
“In a blow to their financial stability, CNN sent a letter to several of the network’s freelancers this week, extending their payment terms to net 90 (payment 90 days after invoice). The change is to ‘be better aligned with our corporate requirements,’” a Twitter user named Marcus DiPaola said on Tuesday night.
The move has met with significant blowback.
“Net 90 is NOT a reasonable payment term for people who must pay rent every 30 days,” Freelancers Union Executive Director Caitlin Pierce wrote on Thursday. “CNN is effectively asking freelancers to finance the cash flow of a multi-billion dollar company by waiting one quarter of a year for payment.”