The Bee offered voluntary buyouts to the majority of its full-time employees today and hinted that another round of layoffs is possible as well.
The buyouts represent the latest round of cost cutting at The Bee, which is facing a big slump in advertising revenue. Two months ago the newspaper eliminated 86 jobs as part of an across-the-board layoff ordered by its parent, The McClatchy Co. of Sacramento. McClatchy imposed a companywide wage freeze two weeks ago.
But Bee executives said today they needed to make more cuts. The economic downturn has deepened and The Bee, like the rest of the newspaper industry, continues to struggle with the migration of business to the Internet and other media.
Monday, August 25, 2008
Fossil Media Death Throes
Speaking of the Sacramento Bee, I hear the death rattle of another ultra-liberal dead tree rag.