L.A. Times Staff To Be Cut 5%, A New Disgrace
The CEO of the Tribune Co., Dennis FitzSimons, continues the nosedive his papers are in, by announcing a new buyout and, very possibly, layoffs at the L.A. Times amounting to 5%, or approximately 150 jobs.
The cut will be even more severe in the Times newsroom, where 70 of 920 staff members, or about 7%, will be asked to leave. (About 100 staff losses are also mandated for the Chicago Tribune and undoubtedly others for other newspapers unfortunate enough to be owned by Tribune).
Jim Rainey's story, buried on Page 2 of the Times Business section this morning, rather disingenuously declares, "With revenue declining, many employees fear that the only way to sustain cash flow will be with further job reductions."
Incredible !! The pure audacity of Tribune management. They just receive millions in compensation for who knows what, and then they slash jobs to save. Are we idiots?
ReplyDeleteIf those fat cats were managing a baseball team they wouldve been fired four times in the last five years.