Wednesday, March 11, 2009
Good morning everyone,
Earlier this week I sent an announcement regarding expense reduction plans at the corporate level, plans that are necessary to manage through this very challenging financial climate. Today I want to share with you what those plans mean for The Modesto Bee.
Today we are activating our plans to reduce our workforce by 40 positions; these reductions will occur across all of our divisions. Employees affected are being notified today and provided with information about severance and transition packages. Everyone who is being impacted has been an appreciated and valued member of our team, and we will do everything we can to make their transition as smooth as possible.
Additionally, we are implementing across-the-board wage reductions for all employees whose compensation exceeds $25,000 annually. Later today every employee ? and this includes all managers, senior executives and myself ? will receive a letter detailing the impact of the wage reduction on your pay. Management incentive programs have also been eliminated for 2009.
Wage reductions will take effect on April 13, and you will first notice it in your paycheck issued on May 1.
Many have asked about work furloughs, and whether they will be required this year. We are not planning furloughs for the first half of this year, but may revisit that option later if financial conditions do not improve. It is important that you know this is a possibility, and that you will be given plenty of notice if and when a decision has been made.
I want to sincerely apologize for all of the disruption and uncertainty you have encountered over the last few weeks. This is a very difficult time for all of us, and it will continue to be challenging as we adapt into a 21st century media company. As difficult as it may be, I would respectfully ask that you do your best to keep focused, work hard and do everything possible to help our newspaper succeed.
I would encourage you to contact human resources if you have any questions, especially any regarding our severance program, wage reductions or employee counseling services.
Publisher & President
Thanks to the reader who sent this in.
To see the latest info on McClatchy layoffs, click here.