BizJournals.com is reporting that the Miami Herald is offering buyouts to 2% of its workforce. I think it's safe to say that 2% is just the beginning. The Herald needs to start cutting back in major ways and focusing resources on the growth areas of the business such as online.
Romenesko has the memo from Anders Gyllenhaal.
MNI shares closed at $9.92 on Friday which is more than a dollar higher than its 52-week low but more than $20 lower than its 52-week high.
Saturday, April 12, 2008
Herald buying out employees
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I wonder if Professor De la Cova's e-mail to Alfonso Chardy and copied to the Herald editors, which was posted on Babalu blog on April 6, had anything to do with this decision two days later. We'll see if Chardy is among those swept out of the newsroom.
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