Thursday, November 17, 2016

Detroit News offers buyouts to all editorial employees

Detroit News offers buyouts to all editorial employees - Crain's Detroit Business:
"The Detroit News is offering a buyout to all of its editorial employees in an attempt to meet its 2017 budget requirement, Managing Editor Gary Miles confirmed to Crain's on Tuesday.
Image result for detroit news layoffsIn a memo obtained by Crain's sent Tuesday on behalf of Editor and Publisher Jonathan Wolman, buyouts are offered to everyone in the newsroom regardless of age and duties.
It's unknown how many need to volunteer to take a buyout to meet the budget goal.
Without enough volunteers, the newspaper likely would have to begin layoffs.
...Crain's was previously told by a source familiar with the finances of the partnership that it was not profitable as of early 2014. 
Partnership executives had said the same thing publicly in 2009 and 2010, amid home delivery cutbacks and rounds of staff reductions to save money..."

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