Just last week saw 46 layoffs to the Philadelphia Inquirer and Daily News and the Philly.com website plus deep cuts at National Geographic. That’s not counting the 75 in process at the Los Angeles Times or the 50 at the New York Daily News and 40 at the Boston Globe.
Why now is straightforward. Companies do their budget planning for next year in the fall. If the numbers indicate the necessity of shrinking the newsroom, sooner is better than later. The savings are greater, the bad press of firing people during the holidays is avoided and, especially for public companies, the cost of severance payments gets deducted from current earnings rather than hanging over the new year. Read more