Tuesday, September 9, 2008

McClatchy's Tri-City Herald offers buyouts

The Tri-City Herald (Washington) offered buyouts Monday to about 60 full-time employees.
The Tri-City Herald announced its second round of layoffs in three months Monday as its owner, the McClatchy Co., copes with declining advertising revenue nationwide.

The Herald offered a voluntary package to about 60 full-time employees, mostly in the newsroom, and managers elsewhere in the company. The Herald has more than 200 employees.

Only a fraction of those offered the separation package are expected to apply for the program and be accepted.

"Adapting to economic and business model challenges means realigning resources and changing business practices," publisher Rufus Friday said in a memo to employees.

Overall McClatchy revenues were down 15 percent from last year for the first seven months of 2008. Although online revenues grew 11.7 percent, the increase was overshadowed by a drop in its far larger print advertising base of 19.2 percent.

At the Herald "advertising is weathering the economic climate better than what we are seeing nationwide," Friday said. In addition, print circulation compared with last year remains among the strongest in McClatchy, and online readership is strong, with the Herald on target to have 3 million page views per month in October, he said.

The Herald's specialty publications, including magazines House to Home, Better Health and Living and Wine Press Northwest, also are doing well, he said.

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List of McClatchy buyouts during August and September
Readers vote "It's the end of the world as we know it" as theme song for Gary Pruitt

1 comment:

Anonymous said...

why don't they just tell the truth? open your eyes rufus and show some respect. i just wonder if you are smart enough to know how the power structure really runs under your command. i know that i will be gone just as soon as something else comes up. right now i am having difficultly with the moral standards, or lack there of. want to work somewhere that laughing is okay and back-stabbing is not.