The Tampa Bay Times will cut staff pay 5 percent, Times Publishing Company CEO Paul Tash tells staffers in a letter Thursday.
The company will also cap severance payments to employees who leave voluntarily at eight weeks’ pay, unless they resign by Oct. 1, in which case the maximum severance is 13 weeks’ pay. The letter hints at layoffs: “After these voluntary departures, we will take stock of the company’s ongoing staff patterns and needs,” Tash writes.
If you are uncertain about your standing with the Times, this is a good time for a frank conversation with your supervisor. If this long, difficult stretch has tested your commitment to the Times or the newspaper business, this is a good time to consider your options.
Poynter owns the Tampa Bay Times.