NY Times buyout offers to become layoffs

[OhioChick]

Source: Reuters

April 16th, 2008

Another day, another story about job cuts and cost cutting in the publishing business.

This time its the New York Times, where an offer of voluntary buyouts may turn into involuntary dismissals.

Back in February, the company said it would eliminate 100 newsroom jobs amid the weakening economy and declining revenues from advertising and circulation. An attempt was made to keep the move bloodless but that didnt quite work. In an internal memo, assistant managing editor Bill Schmidt said the number of people expected to take buyouts likely won’t meet the 100 target.

This comes in the wake of other publishers job actions, including The Modesto Bee , a McClatchy paper, where about one-quarter its 455 employees were offered buyout packages in every division, although the company says the buyouts will affect a “very small” number of the newsroom’s 90-plus employees and thus should have a minimal impact on readers.

Also, Newsweek is reportedly shrinking its rank and file as 111 staffers on its news and business sides accepted a buyout.



Read more: http://blogs.reuters.com/mediafile/2008/04/16/ny-times-buyout-offers-to-become-layoffs/

[liam_laddie]

1. Who's hiring?

:banghead: Only the Ministry Of Disinformation & Propaganda in DC...

[merwin]

2. I believe they call it the Ministry of Truth these days.

[Supersedeas]

3. and there will be those who make the transition seamlessly