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| By OnMilwaukee.com Staff Writers |
| Published Oct. 2, 2007 at 3:45 p.m. |
|
Buyouts and layoffs have been commonplace in the newspaper industry in recent years, but the Journal Sentinel has sidestepped that trend by not replacing staffers who retire or leave the staff.
With advertising revenue falling and the company's stock in a nosedive, that is about to change.
In a story on its Web site, the Journal Sentinel announced that it would offer employee buyouts -- described in a memo as a "voluntary separation program" -- in the hope of eliminating 35 to 50 positions. If not enough employees accept the package, an "involuntary program" will be considered.
Full-time employees with 10 or more years of service as of Oct. 26 will be eligible to apply for the buyout. Those accepted will receive two weeks of pay for every full year of service and two months of paid medical benefits, not including dental and vision.
Non-newsroom employees would receive 1 1/2 weeks of current base salary for every year of service and six months of paid health benefits, also not including dental and vision.
The staff reduction should be complete by mid-November.
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4 comments about this article. Post a comment / write a review. |
Recent Talkbacks ...
Posted by High_Life_Man on Oct. 3, 2007 at 12:02 p.m. (report)
This all started when they decided to become a public company. Then they sold Norlight, an annual moneymaker (although, not as much as it used to be). Journal Communications will be radio and TV only within 3 years. Oh, but I bet Steve Smith and his cronies all get a bonus this year.
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Posted by Z_boy on Oct. 3, 2007 at 7:52 a.m. (report)
I sincerely hope that Eugene Kane is spared. The city of Milwaukee would be the losers if we lost his insightful analysis of race issues in this hyper-segregated city of ours. There is no one else around who can "thoughtfully" show whites the other side of the coin of what it is to be a minority in this town. I put "thoughtfully" in quotes because the alternative is the blabbering of someone like Commander McGee and his Word Warriors show and the callers he gets, all of whom almost seem proud of their ignorance. I can't say I always see eye to eye with the man, but then who can you really say that about anyway? Please, Milwaukee Journal Sentinel, please ... hang onto Kane.
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Posted by mkelover on Oct. 2, 2007 at 4:50 p.m. (report)
I am immediately going to church tonight to pray that race-baiting columnist Eugene Kane takes advantage of the voluntary employee buyout!!!
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Posted by wiboots on Oct. 2, 2007 at 4:08 p.m. (report)
This does not suprise me. With excellent on line newspapers, like onmilwaukee.com, the Journal Sentinel has not kept up with great reporting standards.
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