Apr 15, 2008

Buyouts offered, fundamental changes cited (updated)

The Modesto Bee, a part of the McClatchy chain, offered voluntary buyouts to about 100 employees.

From the paper's own report: Mark Vasché, editor and senior vice president of The Bee, said the buyouts will affect a "very small" number of the newsroom's 90-plus employees and thus should have a minimal impact on readers.

McClatchy has seen ad revenue plummet in recent years. I wonder if what is happening in Modesto is a sign of things to come at the company's other papers, namely the Sacramento Bee* and Fresno Bee?

*Doh. I should have done a little more research. Turns out the Sacrament Bee already did offer buyouts... last month. Thanks to the alert eye of LJ Phillips for setting me straight.

4 comments:

LJPhillips said...

The Sacramento Bee offered buyouts to its 1400 employees last month.

"At the end we expect that less than 2 percent of our work force would be approved to participate in the program," said Ed Canale, the paper's vice president for business development.

http://www.sacbee.com/103/story/775405.html

Gary Scott said...

Thanks

joseph hollak said...

I saw the offer reported in the Sac Biz Jrnl.

The buy-out offer is voluntary...for now.

The NY Times turned their voluntary buy-out earlier this year into a forced lay-off.

If the MoBee's offer isn't popular and it fails to cut enough from the payroll, the buyouts will turn to lay-offs.

Anonymous said...

^^ nice blog!! ^@^

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