Word on the street is that the Kansas City Star is poised to layoff as many as another 20 newsroom staffers, sources say.
“Last week everything was OK,” says a source. “And then, boom!”
It follows on the heels of reports that the Star’s publisher told newsroom staffers at a recent meeting that previous layoffs had not achieved the desired effect to the extent that it had been projected. Things had been calm - even though insiders say upwards of 15 people were reportedly quietly laid off in recent months at Grand Communications, the still-for-sale press plant and elsewhere about the biz.
The $64 million question: what percentage of the pending layoffs will go down in the form of actual layoffs versus Mike Hendricks paycheck and benefit cutbacks?
Twenty might be a little high, based on recent McClatchy layoffs. The Miami Herald pink-slipped 16 employees this week, and the News & Observer cut 10 last month. But, if revenue has dried up as badly as we're hearing, then it could be 20 or more. (Hat tip: Tony's Kansas City)
All you have to do is read the 8K and it is clear that their earnings announcement, conference call, and subsequent PR blitz pumping the stock was probably over the line of fraud if reported to the SEC.
In fact, the blatant falsification of the facts would probably justify an SEC audit just to see how badly they are cooking the books even now.
Now where is our troll who attempted to claim that it was physically impossible for them to be conducting stealth layoffs? Time to eat them words.
Some of the middle-size to smaller papers have been quietly offering buyouts to deadwood. All so stories about big layoffs don't have to be written and their publishers can still say, "Hey, all is well, at least here."
And where's the troll that said my August raise was in the bag!
Probably the same McClatchy fanboy.
3:11 - Please provide facts to support your accusations. If you're right, a lot of people should go to jail. What you describe is not simply unethical, it's illegal. Are you reporting it to the SEC?
Oh no Mr. Bill! No August raises and free bagels in the newsroom!!! Can McClatchy suck any harder? Nah.
Of course there are more layoffs. With the big price increases, circulation is falling even faster. We have to cut costs to make our numbers.
It's like taxing yourself to prosperity.
5:00 PM But it worked for the King!
When will the axe swing at MNI corporate and in Washington. If you want deadwood...
I feel sorry for the employees that have been working hard under stressful conditions these past months. Some have been doing double duty as co-workers burn vacation time, and suffer through unpaid furloughs. I wish this was a new story, but I have heard the same thing over and over. Stealth layoffs, laying off employees a few months after their vacation time is burned up. Attorneys are guiding these layoffs. The person’s talent, and their work ethics mean nothing. Thank you for your years of service. Now get OUT!
Bla Bla Bla. Rumors Rumors Rumors. 3:11 isn't going to produce any facts....they never do. 3:11 if you got the goods then turn it over to the SEC. We all know that will happen. HA
3:24 Facts...what papers?
Just the facts man, just the facts man.
7:39PM: Your so right.
7:39 AM - We do work for someone else. I make it a point to never forget that fact. Painful, but true.
7:39 Cry me a river. Who gices a " _____" how hard they work. They are still overpaid for what they produce.
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