US: Seattle Times Co. cut 200 positions
Posted by Carolyn Lo on April 8, 2008 at 9:03 AM
The Seattle Times Company will be laying off or freezing about 200 positions due to approximately $15 million in budget reductions, which will be implemented over the next two months, stated a memo by Seattle Times publisher Frank Blethen.
The bulk of revenue declines are occurring in the Classified ad sections, (a newspaper trend partly due to Craigslist and the like) and online revenue is slow in increasing. About 131 of the 200 cut positions will be layoffs while about 60 unfulfilled positions will be frozen. Currently, the The Times has 1,845 employees.
Blethen wrote that, "The only responsible action to take is to better align our expenses to the reduced revenue we now anticipate."
Source: Slog through Poynter Romenesko
The bulk of revenue declines are occurring in the Classified ad sections, (a newspaper trend partly due to Craigslist and the like) and online revenue is slow in increasing. About 131 of the 200 cut positions will be layoffs while about 60 unfulfilled positions will be frozen. Currently, the The Times has 1,845 employees.
Blethen wrote that, "The only responsible action to take is to better align our expenses to the reduced revenue we now anticipate."
Source: Slog through Poynter Romenesko
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