Friday, November 13, 2009
Rumors swirling in Miami
Rumors are flying around the Miami Herald that a sizable chunk of employees are about to get pink-slipped.
The last layoffs at the Herald were less than three months ago, when 16 employees were laid off and 18 positions were left vacant.
Still, layoffs wouldn't be a surprise. The plunge in circulation at the Herald is almost catastrophic -- in the six months ending 9/30/09, daily circulation dropped by 39,862.
And ad revenue for newspapers has been plunging at at 25% clip for more than a year. Do the math: when your revenue drops every month you have to keep cutting expenses to stay afloat.