Job cuts at the Chronicle
We noted a few weeks ago that the Chronicle buried some rather ominous news about "restructuring" at the newspaper in the business section.
We speculated at the time that layoffs were coming. Now, the shoe has dropped:
The Houston Chronicle has cut nearly 10 percent of its work force, or 243 positions, as part of a previously announced program to reduce operating expenses, the company said today.
More than 64 percent of the reduction was in contract labor and outside work force positions, 28 percent through voluntary buyouts and elimination of open positions, and 8 percent through layoffs. The Chronicle provided severance packages and job placement services to employees who left.
Virtually all of the positions in the news and advertising divisions remain intact.
In a letter to employees, Chronicle Publisher and President Jack Sweeney said it was important to cut costs to pay for initiatives that will add circulation, readership and advertising revenue.
Sweeney is not very convincing. A 10% workforce reduction is MASSIVE, no matter how he tries to spin it.
Posted by Kevin Whited @ 10/27/04 04:59 PM | Print |
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