The Modesto Bee, which is owned by The McClatchy Co., offered buyouts to full-time employees on Monday, KCRA 3 learned from an employee at the newspaper.
The newspaper held a meeting Monday where a packet was given that included an offer of two weeks of pay for every 12 months of continued service, according to The Modesto Bee Web site.
"Unfortunately, the economy continues to worsen, and we must reduce expenses further," publisher Margaret Randazzo said in e-mail to employees.
The move comes four days after McClatchy announced a company wide wage freeze that will last for at least one year.
Employees who take the buyout will have heath care coverage until the end of September, with an option of continuing it for up to 3 months, according to the newspaper's Web site.
The Modesto Bee has had three previous rounds of layoffs in 2008. In April, buyouts were offered to 100 employees at the Modesto Bee. On Bloody Monday, the Modesto Bee announced it was cutting 15 jobs. Earlier this month the paper announced it was cutting 33 full-time and 127 part-time employees in conjunction with moving printing operations to Sacramento.
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2 comments:
McClatchy damage control wants to keep it to a minimum, so they don't let KCRA in the building OR let them talk to the Publisher! I think I recognize the KCRA reporter, didn't she used to work at the Modesto Bee?
Their comment..."Unfortunately, the economy continues to worsen, and we must reduce expenses further,"...so the rich (Gary pruitt and the stock holders and board) get richer and the employees get stung.
To those getting the buy out offer, my advice...Take the money and RUN and don't look back. I know of a few who are seriously considering taking the buy out before McClatchy files Chapter 11.
"Bloody Monday" saw the loss of some key valuable employees that had many years experience at the Bee. When the administrative assistances were let go some of the department heads didn't know what to do or how to do their job.
Today Sunday August 24 The Modesto Bee FINALLY cuts loose with THEIR spin on the "streamlining" of the Modesto Bee. A lean mean news missing machine. I will be waiting for McClatchy Watch to post this latest story on the McClatchy debacle.
Only five weeks left on the countdown to Sept. 28!
If your read all the publishers letters/emails they all have the same code words in them....interesting. I received a buyout package. When I went to the informational meeting we we're told we would have to sign a legal release before we would get our money. Quess what, when we asked to see a copy of it no dice not until after we request the buyout then to get our money we will receive it and then must sign it. Does anybody know whats in it????
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