Posted on 03/23/2009 1:03:09 PM PDT by anniegetyourgun
The Oregonian this morning announced an expense-reduction plan in response to the difficult economic conditions facing newspapers and all businesses.
Publisher Fred A. Stickel and President Patrick F. Stickel announced the steps in a letter to employees (PDF) and in company meetings.
Stickel said the steps were necessary to keep the paper profitable after losing "several million dollars" in 2008.
Among the steps:
• Pay reductions of 5 or 10 percent depending on pay level.
• Unpaid furloughs of four days for full-time employees.
• Freezing of pension benefits in the company's traditional plan, but an increase in the company match of its 401(k) plan. The Oregonian offers both plans to its employees.
• Layoffs of some part-timers in the news and production areas of the company and some job reassignments in production. Severance packages will be given to those losing jobs.
Liberal socialist ee’s should be ok with that. It is what they have wanted for soooo long.
It sounds like Stickel is stuck.
Thats silly. Why don’t they just buy 500,000 shares of their own company and boost the stock price? They could then sell the higher stocks to themselves and reap a huge profit. Using these profits they could buy new equipment and increase the salaries of their employees.
/s
Isn’t this paper very liberal? They seem to be doing that which they oppose our Federal Govt. doing. Cutting spending comes to mind. Seems they have figured out that they cannot spend money they dont have. Why don’t they advocate this for the Federal Govt? Or why don’t they just print their own money? Or borrow a buch and left future workers at the paper figure out how to pay back the loans. I’m confused.
they should raise taxes on their subscribers
Well, only the rich subscribers.
Yes.
Off the chart!
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pingy
An anti-nepotism policy might have helped greatly.
Ping...
That would be Oregone-ians then, wouldn’t it???
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