It's official now. Times Editor Russ Stanton announced big job cuts today: 150 to the newsroom and 250 across the LA Times.
What Stanton still hasn't spelled out is this round's cruelty. As TellZell previously noted, these cuts will be mostly firings. So everyone will be sitting around with dread, unable to know whether they will be offed. Worse, this fabulous feeling of dread and uncertainty will last over the next two months--until Labor Day, Stanton says.
The Retch fears for his paper of choice. I don't know how we survive this round looking anything like the LA Times of the past: a full-throated, aggressive, local, national and international newspaper.
I'll post your many comments and have more to make myself later. In the meantime, we all have jobs to do.
Memo follows.
Colleagues:
You all know the paradox we find ourselves in: Thanks to the Internet, we have more readers for our great journalism than at any time in our history. But also thanks to the Internet, our advertisers have more choices, and we have less money. Add to that a poor economy, particularly for us in the California housing market, and you quickly see why a wave of cutbacks has swept through newsrooms this year from New York to Santa Ana.
We are not immune. As David Hiller mentioned in his memo last week we are embarking on another round of cost cutting. I deeply regret to report we will be reducing the size of our editorial staff, both print and Web, by a total of 150 positions, and reducing the number of pages we publish each week, by about 15%.
These moves will be difficult and painful. But it is absolutely crucial that as we move through this process, we must maintain our ambition and our determination to produce the highest-quality journalism in print and online, every day.
Through all of our changes, we continue to give readers terrific coverage, whether it's the continuing collapse of the housing market, public pools that have been taken over by gangs, or the controversy surrounding liver transplants at one of our most prestigious hospitals. We've provided insight into the historic presidential campaign, and we've delivered exclusive, on-the-scene looks at the brutal repression in Zimbabwe and the continuing war in Iraq. The future of The Times, in print and on the Web, depends on that kind of journalism -- exclusive, original, excellent. We will not retreat from that commitment.
I don't yet have all the details on the reductions to come, but we expect to complete these moves by Labor Day. We'll provide more information, including the severance terms, as soon as we can. As part of this process, we will be combining the print and Web staffs into a single operation with a unified budget.
I appreciate your patience, understanding and cooperation during this difficult time. John, Davan and I, and the rest of the senior editing team, will be available to answer your questions. With more than 700 people, we will remain one of the largest and best newsrooms in the country. And we will continue to be a strong and formidable presence in the business we so dearly love.
Russ Stanton
Editor
Wednesday, July 2, 2008
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13 comments:
there's no way to sugarcoat it. this sucks.
we at the tribune are still waiting for the blood to flow here...
... but our editor is on vacation in korea. now that's leadership!
I don't know if you saw this, but you got a shout-out, along with some other blogs:
http://tribuneemployeetalk.blogspot.com/
For what it's worth, good luck and I'm sorry. We're all suffering, though.
The men who preceded this unqualified publisher and incompetent and undeserving editor were men of talent, integrity and courage. Hiller and Stanton proved today and in previous days that they are not fit to polish their shoes. They care only about themselves and will do and have already done whatever it takes to save their jobs. Journalism students in the future will study the actions of these men as contributing to the downfall of print of journalism. There is not a pair of balls between them.
What I would like to see is how much of Tribune Co's debt was incurred for "valid" reasons, such as buying new plant and equipment, and how much was "transactional," meaning it was incurred in various corporate buyout schemes.
Yeah, newspapers are struggling...but would the L.A. Times be profitable w/o that debt-monkey on its back?
Other days I feel the L.A. Times was like a restaurant that served too much so-so food per serving. Now, they have cut back the portions.
Fuck you Zell. Raping what you can for a buck. You knew DAMNED well PARTNER what was at stake when you leveraged this sale.
Fuck you, and I hope you rot in hell you fucking fruitcake
anyone here think that zell or any of the others read this shit?? you know you CAN email him directly and tell him exactly how you feel. anyone here have the balls to do that? not ashamed to admit that i don't
How is it that three rounds of buyouts ago -- that is JUST ONE YEAR ago- the paper was cut down to about 800 or so newsroom employees. And yet, today it's at 840 or so -- they keep cutting - yet they are still hiring in the newsroom, and continue to do so. Some reporters came aboard within the last few weeks/months...Yea, some of them are for the web -- but geez, the web sure ain't much better for it -- and several reporters have recently been hired in the newsroom? Isn't this rather unconscionable - hire a bunch of folks then go fire some more experienced, better paid folks? Where's the logic in that (yea, they may be cheaper but you get what you pay for.)
Doesn't this smack of age /experience discrimination (and of course greed and shortsightedness)....
Emotions rightfully run hot, but let’s acknowledge some facts of life regarding the problems with print. Just a few years ago, employers, home builders and automotive dealers paid many thousands of dollars to place a single ad in our daily and Sunday newspapers. And then along came the Internet with $500 ads that effectively blew up the entire business model.
Picking up after the online 8.9 earthquake destroyed these cash cows is proving to be an impossible dream. Those 20% margin revenue dollars are gone, and they are what paid much of the salaries associated with the thousands of Tribune Company employees stacked like locusts enjoying record crops of green. The big party is over and it's now time to see what can work to keep the lights on.
It should be noted however that the latest Z$ell “solution” now looks much more like a California Condor picking the print bones clean before moving on down the road on his motorcycle.
I am curious how the ESOP arrangement Zell set up is going to work for these departures. Under the ESOP, as I understand it (which is very fragile), companies have to buy back the shares of departing employees. So where does Zell get the money to buy the shares of these 150? It is quite clear that he is up against the wall and needs all of his cash to pay the debt payment.
Or can he dip into the LAT retirement fund to pay these costs? Retirement funds are normally off-limits for these purposes, but I do not know the operations of an ESOP.
what shares???? we're supposed to be allocated shares depending on profitability of the company, aren't we? don't be surprised if you get asked to pay THEM so they can lay you off
The comments of the likes of Hugh Hewitt are stunning. The paper didn't move left; he and his ilk moved far to the right.
The more galling thing is that Tribune management, along with other newspapers, somehow thinks that the way to adopt a new means of delivering news requires profitable companies to cut their staffs and the products. That's fine for a carmaker teetering on bankruptcy, but makes no sense if what you're selling is depth and breadth of news coverage.
The thing about the push for the web that has always puzzled me, especially with present management of the LATimes, is how precisely the web operation might replace the print newspaper as a source of information. It has never been adequately explained by those who assure us that it will. Perhaps the next memo from Lee Abrams will. (Right.)
Right now, the web is a great circulation device. And a terrific tool of research and fact checking. But the technology shows few signs of solving the real dilemma newspapers face, which is not a cost problem, but a revenue issue.
I'd love to see a truthful study of the so-called migration of print ads to the web. If it were as promising as many charlatans claim, newspapers wouldn't be falling into the sea quite so fast.
I'm afraid most of those on the business side who oversee web operations would be just as comfortable suckering tourists at three-card monte.
How in G-d's name did Zell get his hands on the Tribune Employee Retirement Fund to use to purchase Tribune? I remember reading the spin that it was such a good thing for Tribune. HOW did he get his hands on it in the first place? That's supposed to be sacred territory, our retirement money. Once he got in power he kept telling us how we were all owners now because of this. AGAIN, I wanna know how he legally got to use it in the first place?
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