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Monday: Yikes...
posted at 2008-04-28 11:57 | Last modified 2008-04-28 14:28
This just in - the News & Observer is offering voluntary buyouts to 230 204 (updated number) of its 900-ish employees this afternoon. The N&O's Sue Stock reports only a small number - 1-2% - are expected to accept. From her story:
Publisher Orage Quarles III said the decision to trim the company's staff came following a period of declining revenues and other factors such as the rising cost of newsprint and gas.
"It's almost a perfect storm of factors," he said. "We've got to get the organization to a size that supports the revenue."
Eligibility for the package was not determined by seniority, Quarles said. Instead, the company looked for positions that could be eliminated using technology, efficiencies or consolidation of jobs.
No official word yet on how many offers might go to the newsroom, or what the overall reduction target might be.
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