Aug 3, 2008

More of the same

The San Francisco Chronicle on Friday announced another round of buyouts between now and the end of the year, with a goal of cutting 125 jobs. If the goal isn't met, layoffs are likely to follow.

From a Saturday brief: "Obviously, we're not the first newspaper to be affected by the continuing downturn in advertising," said Publisher, President and CEO Frank Vega. "We are hopeful that by opting for our employees to voluntarily sign up for buyouts we can avoid any type of layoffs going forward."

The Hearst-owned paper cut a quarter of its newsroom staff just last year and has gained a certain level of infamy as being the paper that loses a million dollars a week.

1 comment:

Anonymous said...

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