GMTV stars hit by massive pay cuts

The presenters of GMTV are facing pay cuts of up to 25 per cent and shorter holidays when they sign their new contracts later this year.

Stars of the early morning show including Kate Garraway, Ben Shephard and Andrew Castle will see their salaries drop as the broadcaster tries to cope with the recession, reports the Daily Mail.

Only the show's highest paid star Lorraine Kelly, who is believed to earn £350,000 a year, will not be affected by the cost-cutting.

Ben Shephard faces the biggest drop in earnings and could see his annual pay cheque slashed by as much as £75,000, while Kate Garraway could see her salary drop by £70,000 when she enters contract negotiations in August.

The presenters also face having their holiday entitlement cut by up to 50 per cent to get more value for money.

A GMTV insider told the Mail: "They used to have much longer holidays. Some of them used to have something like 12 weeks off. I think now they are going down to six of seven.

"GMTV is saving money all over the place. In this climate the presenters will all be nuts not to accept what they have been offered."

What do you think about the cutbacks? Are they unfair or do you think the presenters already earn too much? Let us know...

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