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CEO Henry Blodget. Photo: Britta Pedersen/picture alliance via Getty Images)

Insider Inc. will boost its minimum salary to $60,000 annually for U.S. employees, while increasing its minimum severance package to eight weeks, according to a memo from company executives obtained by Axios.

Why it matters: Insider has been able to dodge many of the financial headwinds from the pandemic that plagued other media businesses.

  • In an interview with Axios earlier this year, CEO Henry Blodget said the company hired 130 journalists last year, and did not have to lay anyone off.

Details: Insider will also convert its salary+bonus compensation for most editorial staff to only salary, per the memo from CEO Henry Blodget and chief people officer Margaret Bowani.

  • "Editorial employees who currently receive a bonus will have their salary increased by the amount of their target bonus," the memo reads.
  • Some employees earning just over $60,000 will also get a modest raise to account for the new higher minimum.
  • The company is also increasing minimums in the U.K. 
  • Fellowship and intern programs will remain the same.

The big picture: Many media companies have had to lay off employees amid the pandemic, mostly due to advertising headwinds.

What's next: "The minimum-salary and bonus changes will take effect on April 1st," per the note. "The minimum severance change will take effect immediately."

Go deeper: Insider Inc. to drop Business Insider name amid massive global expansion

Go deeper

First look: Hawley to introduce alternative to minimum wage hike

Photo by Erin Scott/pool/AFP via Getty Images.

Sen. Josh Hawley (R-Mo.) is jumping on the minimum wage bandwagon and will introduce an alternative to Democrats' proposal on Wednesday that would use federal dollars to increase low-earning workers' income, Axios has learned.

Why it matters: Hawley, a Trump-style Republican who's considered a likely 2024 presidential contender, is breaking with the mainstream GOP orthodoxy in suggesting that he believes the federal minimum wage is too low.

Feb 24, 2021 - Podcasts

The minimum wage state of play

We’re in the longest period of time since the minimum wage has been created that it hasn’t been adjusted. You’ve probably heard the progressive and Democratic argument for a $15-an-hour federal minimum wage. Now, some Republicans are responding with a proposal to raise it to $10 an hour by 2025.

  • Plus, what we’re just learning about security around the Jan. 6 insurrection.
  • And, how Home Depot is a proxy for the housing markets.

28 U.S. citizens depart Afghanistan on Qatar Airways flight

Passengers board a Qatar Airways aircraft bound to Qatar at the airport in Kabul on September 10, 2021. Photo: Aamir Qureshi/AFP via Getty Images

The State Department on Saturday confirmed that a Qatar Airways charter flight left Kabul on Friday with 28 U.S. citizens and seven lawful permanent residents on board.

The big picture: Friday's flight is the third such airlift by Qatar Airways since the Taliban takeover of Afghanistan, AP reports.