Posted on 08/10/2006 8:34:08 AM PDT by abb
Published: August 10, 2006 10:55 AM ET
NEW YORK The Dallas Morning News said this morning its cutting 85 jobs in the newsroom or about 17% in preparation for a major restructuring.
The paper currently counts 500 employees in editorial including interactive.
Executives are offering voluntary buyout packages to all employees however, if not enough apply, management could resort laying people off.
"As the newspaper industry adapts to fundamental changes, the Dallas Morning News is shifting resources to meet evolving reader and consumer needs," Jim Moroney, publisher of the paper, said in a statement. "Continual change is the new constant in our business, but it is not for everyone. Therefore, we are offering a voluntary severance package to those who may prefer another work environment."
The buyout package includes two weeks of base pay per year of continuous employment up to 15 years and three weeks of salary for each year of service that exceeds 15 years. An additional lump-sum payment equal to 12 months of the employee's currently applicable COBRA health care premium is also part of the deal.
Editor Bob Mong told E&P the package was on a first come, first serve basis. We will go through a process and see how many people apply, he said. The buyout period is expected to end on September 15.
Our goal is to really synchronize our staff size with the economic realities of the time, Mong said, and to continue to be the leading news and information source in the area.
A "significant reorganization" of the newsroom will be announced in November, he added.
The Dallas Morning News is following the lead of many other metro papers across the country, which have been struggling for circulation and advertising revenue.
In a report released last week, Bear Stearns analysts Alexia Quadrani wrote she expects many newspapers to wield the axe because of weak advertising revenue forecasted for the remainder of the year. The research firm estimates that from the beginning of the year through June, the industry shed about 950 jobs, compared with 450 for the same period a year ago.
Jennifer Saba (jsaba@editorandpublisher.com) is associate editor at E&P.
Ping
Could hardly happen to a more deserving bunch!
Lay 'em all off - they're just copying what they find on Reuters and al Jahzeera anyway!
What's the second law? I like the first one!
Excellent trend. Hope MSM keeps sinking.
Has the makings of a great tag line...
And... the layoffs will continue until the moral picks truth shows up!
EXCELLENT news!
The Dallas Morning News is one of the more leftist Democrat organs in the nation. It's not as bad as, say, the Philadelphia Inquirer but it's close. I love the stench of dying, liberal antique newsrooms in the morning.
I call it addition by subtraction although I'm sure some good people will be hurt in the process. Next, I'd suggest that Belo Corp.(owner of DMN)) start cleaning house over at Ch. 8 and the first I'd like to see go is that dimbulb Glorrrrria Campos as well as some other La Raza change agents.
Thanks for the ping. I lost my job today, too. The company I work for company got bought (again). The new company doesn't do what my division does (independent insurance field adjusting services).
I've seen this coming for a short while, so I've started my own company. Wish me luck.
The disturbing make believe photos from this disturbing make believe event are shown below. Dont allow children under the age of 30 to view this horror caused by Israel. Of course, this is Bush's fault.
No Problem! Here comes your Bomb!
The link below will take us to a very timely thread. A German video crew caught Green Helmet Guy, aka, GHG, directing and staging a photo op with a dead child.
The MSM abroad and here since the days of Nam have been using photos and lies against America and our allies.
http://www.freerepublic.com/focus/f-news/1681112/posts
When Dallas was a two paper market (the Times Herald, that is...I'm not counting the FW Startlegram), the Morning News had a fairly conservative perspective.
They're keeping you busy. Hilarious.
Green Helmet Guy, Wailing Woman. White Tee Shirt Guy. Our cast of kooks keeps growing. LOL. Looks like a good place to tout this little primer on Pallywood propaganda. (Give it time because it starts with a 60 Minutes story simply parroting propaganda tailor made for gullible MSM sheep.)
My local rag.. hooray
As the media doesn't listen and is going out of business, there's no need for a "Raoul's Second Law".
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