The Los Angeles Times has opened up its offer to buyout the contracts of editorial staffers to anyone who wishes to volunteer as the newspaper moves forward on plans to lay off dozens of employees amid declining advertising revenue.
The Philadelphia Inquirer offered voluntary buyouts to 55 guild members in sales, Poynter learned via a memo on Friday. Another voluntary buyout offer was made to fulltime newsroom employees 65 and over after some employees expressed interest in such an offer.
The Los Angeles Times is offering its staff voluntary buyouts less than two years after biotech billionaire Dr. Patrick Soon-Shiong swooped in to buy the beleaguered newspaper in hopes of turning it around. In an email to staffers on Wednesday, The California Times, the company that owns the paper, announced voluntary buyout packages to employees who have worked at the company for least two years.
Exclusives
WBBM Losing Newsroom Veterans To Buyouts
A memo went out on Wednesday to Turner employees offering volunteer severance packages aimed at those 55 years and older and who have served a minimum of 10 years. The move suggests that voluntary leaves will come before large numbers of people are let go as AT&T strives to rid itself of duplicative job functions and rein in spending at its new asset.
Tribune Media Offers Buyouts To WGN Staff
Voluntary buyouts are being offered to employees of WGN-TV Chicago and news/talk WGN-AM as part of a year-end staff reduction throughout parent company Tribune Media. The move comes despite an 11% increase in third quarter revenues and a “strong operational year” for the company.
“I can confirm a small number of employees at our stations have been offered voluntary buy-outs,” says a Tribune spokesperson. It’s not known what the station group is offering or if anyone has taken Tribune up on the offer yet.
Hundreds of 21st Century Fox have taken buyouts the company announced earlier this year, as part of a proposed $250 million spending cut. The headcount is between 300 and 400, an individual familiar with the buyouts told The Wrap. Layoffs are not currently planned, the insider said.
WXIA Reunion Fetes 15 Departing Staffers
Tegna stations have been offering buyouts for about the past month. Some reports say to get a one, you have to be over 55 and have worked at the station for more than 15 years. What the monetary deal is, we have no idea. From what we’ve seen each station was free to handle it the way they wanted.
Whitney, Rowson, Lowry Taking WXIA Buyouts
The offer went out to 600 U.S.-based employees who are over 55 and have worked at the company for at least 10 years, excluding on-air talent and others with specific contracts.
