Mercury News announces (101) layoffs (40% from newsroom)

[UpInArms]

http://www.mercurynews.com/mld/mercurynews/news/15810187.htm

(free registration or try www.bugmenot.com)

The Mercury News announced Friday that it will lay off 8.5 percent of its work force -- 101 employees -- by Dec. 19 as a long-running slide in revenues across the newspaper industry continues.

It is the second time in less than a year that the San Jose newspaper, which employs roughly 1,160 people, has cut its staffing levels. In November 2005, the newspaper reduced staff through 53 voluntary buyouts.

Of the layoffs announced Friday, about 40 jobs will come out of the newsroom, a 14 percent cut.

``I'm sorry to have to stand before you today, again, with some bad news,'' executive editor Susan Goldberg said at an afternoon meeting of newsroom employees. ``The economics of our industry continue to slide downward.''

Revenue declines have hit newspapers across the country this year, many of which have reduced staff. The slide has been sharp across advertising sectors, including real estate, job placement and automotive.

...more...

[tblue]

1. I know they were very recently acquired by McClatchy

Their editorials have been pretty good since the acqusition, I've been watching. I wonder what this will mean editorially.

[Ian David]

2. I was thinking the same thing. Media consolidation sucks. n/t

[brentspeak]

3. But the stock market is past 12K!!

:sarcasm:

[davidinalameda]

4. amazing

newspapers are going the way of the dinosaur