Free Republic

Tampa Bay Times offers buyouts to staff, says payroll needs to be cut by 20 percent Citing revenue shortfalls, Tampa Bay Times Chairman and CEO Conan Gallaty announced buyouts this morning for the newspaper's 270 employees, which includes about 100 journalists. In a letter sent to employees and partially published to the Times website, Gallaty said the company must reduce payroll by 20% or layoffs will commence later this month, adding that employees have until Aug. 16 to take the buyout packages, which max out at 12 weeks of pay. “We remain committed to finding a viable path for great...