tribune publishing 7 of staff taking buyouts
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Tribune Publishing 7% of staff taking buyouts

Arab Today, arab today

Arab Today, arab today Tribune Publishing 7% of staff taking buyouts

According to the Chicago Tribune, nearly 500 of the 7,000 eligible employees took a buyout
Washington - AFP

Tribune Publishing said Thursday seven percent of its staff had taken buyouts as it streamlines operations across its newspapers, which include the Los Angeles Times and Chicago Tribune.

The publishing group, spun off from the larger media conglomerate Tribune Co. last year, said in a regulatory filing it would set aside $55 million for severance and related costs for the job cuts.

According to the Chicago Tribune, nearly 500 of the 7,000 eligible employees took a buyout at the newspaper group, which also includes the Baltimore Sun, Orlando Sentinel and several niche publications.

There was no breakdown of cuts by newspaper but one report last month said 15 percent of Los Angeles Times staffers had accepted the offer.

Employees who took the buyout get at least one week of pay for every year of employment up to 10 years, two weeks of pay for 11 to 20 years and three weeks for years 21 and beyond, with a cap at a year's pay, according to the Chicago newspaper.

The group has been struggling for direction since the split, amid speculation that it could sell off its prized Los Angeles daily or put the entire group up for sale.

The company earlier this year bought the San Diego Union-Tribune and recently offered a $3 million loan to the parent of the Orange County Register newspaper which could be used in a bid for its assets. Such a sale could give the group a strong if not dominant position in the southern California region.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tribune publishing 7 of staff taking buyouts tribune publishing 7 of staff taking buyouts

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tribune publishing 7 of staff taking buyouts tribune publishing 7 of staff taking buyouts

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation

GMT 22:26 2017 Friday ,27 October

Minister receives University College chairman

GMT 23:02 2018 Thursday ,13 December

Aoun meets UN Special Coordinator

GMT 21:32 2018 Wednesday ,31 October

Naomi Campbell parties in Yousef Al-Jasmi creation

GMT 19:52 2017 Thursday ,10 August

Intel set to roll out 100 self-driving cars

GMT 06:01 2017 Monday ,13 February

Angham prepares new series in Ramadan 2018

GMT 16:25 2016 Thursday ,29 December

Tunisian suspect in Germany truck attack freed

GMT 21:16 2017 Sunday ,01 January

Armed Forces appoint new military spokesman

GMT 11:14 2016 Saturday ,17 December

Turkey to set up 10,000 tents for Aleppo refugees
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday