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Oregonian announces cuts

Discussion in 'Journalism topics only' started by silvercharm, Mar 23, 2009.

  1. silvercharm

    silvercharm Member

    From the Publisher this morning:

    The Oregonian this morning announced an expense-reduction plan in response to the difficult economic conditions facing newspapers and all businesses.

    Publisher Fred A. Stickel and President Patrick F. Stickel announced the steps in a letter to employees and in company meetings.

    Stickel said the steps were necessary to keep the paper profitable after losing "several million dollars" in 2008.

    Among the steps:

    • Pay reductions of 5 or 10 percent depending on pay level.

    • Unpaid furloughs of four days for full-time employees.

    • Freezing of pension benefits in the company's traditional plan, but an increase in the company match of its 401(k) plan. The Oregonian offers both plans to its employees.

    • Layoffs of some part-timers in the news and production areas of the company and some job reassignments in production. Severance packages will be given to those losing jobs.
  2. slappy4428

    slappy4428 Active Member

    part of the Newhouse thread... three down from this.
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