Mar 26, 2009 3:35 pm US/Eastern
Boston Globe Employees Forced To Take Pay Cut
BOSTON (WBZ) ―
Poll
Should the government rescue failing newspapers?
You need the latest Flash player to view our Poll.
Click here to download.
Click here to
bypass this detection if you already
have the latest Flash Player.
Some drastic cuts are changing the landscape of the local news business.
The New York Times, which is the parent company of the Boston Globe and the Worcester Telegram & Gazette, is taking drastic steps to stay afloat.
The moves put dozens of jobs on the line.
The Times and the Boston Globe have announced most of its employees are being forced to take a 5 percent pay cut for the next nine months.
Most newsroom workers are being asked to take 10 days off voluntarily before the end of the year.
The Times is also
laying off 100 employees.
Newspapers across the country are folding as advertising revenue declines. No one in the media world is immune, even a giant like the New York Times.
It's no secret the
Boston Globe is struggling. The paper needs
50 newsroom workers to take buyouts, but so far only half that number have agreed.
Thus, more layoffs are imminent.
A spokesman for the Globe said Thursday, "Today's wage reduction measure is part of a series of difficult but necessary cost reductions to strengthen our business and to safeguard our journalistic mission to serve our readers."
The pay cuts also affect Boston.com. WBZ has been told workers at the Worcester Telegram & Gazette face a 2.5 percent pay cut.
The Boston Herald says it needs 20 employees to accept buyouts. It's not known how many Herald workers have agreed.
(© MMX, CBS Broadcasting Inc. All Rights Reserved.)
Click to enlarge
Stumble It!
Reporting
Comments