The Fresno Bee on today offered employee buyouts and said layoffs may follow if the move does not save enough money.
Ray Steele Jr., publisher of The Bee, announced the news in a memo and staff meetings today. The offer is open to most of The Bee’s full-time workers and includes severance pay and extended medical coverage.
Steele did not say how many employees must leave to meet the company’s cost-cutting goals. But he warned that layoffs may come if the buyout offer doesn’t save enough to cope with what he called “some of the worst economic times we’ve faced.”
The Bee, like most American newspapers, is struggling as advertisers cut back in a slow economy.
Today’s move follows a June layoff at The Bee that cut 44 workers, or about 7% of its work force, leaving the newspaper with 570 full-time and part-time employees as of this month. The Bee also closed the Clovis Independent and South Valley Bee weekly publications.
McClatchy August buyouts:
Wichita Eagle offers buyouts -- 6th McClatchy paper this month
Sacramento Bee offers buyouts... 5th McClatchy newspaper this month!
Kansas City Star offers buyouts -- 4th McClatchy paper this month
Fort Worth Star-Telegram offer buyouts... again
Modesto Bee offers buyouts to all full-time employees
Herald-Leader to offer another round of buyouts
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