From the memo:
Approximately 1400 employees will be impacted by the job reductions across the division. Your publisher or general manager will communicate the local plans, and we expect the vast majority of the reductions will take place by July 9. In a select few cases, the implementation may take longer. There will not be any furloughs for the rest of the year.Read the complete Dickey memo here.
I want to stress that the job reductions are not a reflection on these employees or their work. We truly value their many contributions and thank them for their efforts over the years.
Unfortunately, we must take these steps because the advertising environment remains challenged. There have been some promising signs of a recovery, but the reality is the improvements are not broad-based and the economy continues to be fragile.
Even so, we know the economy will improve. To be ready, we need to continue our transformation and maintain a strong financial position. We must publish our newspapers, produce our Web sites and pay down our debt. By taking all these steps today, we will be stronger tomorrow.