Wednesday, August 27, 2008
SacBee offers buyouts to most employees
The Sacramento Bee reports that it is offering voluntary buyouts to 55 percent of its full-time employees — including 200 of its 240 full-time news staffers — as an advertising slump continues. The Bee has made limited buyout offers before, but this marked its first-ever broad-based buyouts. The buyouts came two months after The Bee eliminated 86 jobs as part of an across-the-board layoff ordered by its parent, The McClatchy Co. of Sacramento. A companywide wage freeze was imposed by McClatchy two weeks ago. In July, The Bee unveiled a smaller print format, another way to save money. McClatchy stock, already off 85 percent in the past year, closed Monday at $3.54, down 4 cents.
Posted by San Francisco Peninsula Press Club at 12:07 AM