Last week: The Seattle Post-Intelligencer has told employees they “might” lose their jobs as soon as next week after a deadline for Hearst Corp to sell the newspaper passed last Monday.
The news is out, the 146-year-old Seattle Post-Intelligencer prints its last edition tomorrow.
The P-I will continue to “live” on the Internet with a much smaller staff.
I like it. It’s a mix of current and archival. Mikey likes it!
Owner, the Hearst Corp. reports it has failed to find a buyer for the newspaper, which it put up for sale in January after nine years of financial losses. There are no more suckers left with enough trust fund money to waste.
The end of the print edition leaves The Seattle Times as the only major daily newspaper in the city.
The TV stations will be there tonight and tomorrow capturing the historic day.
Seattle has been counting TV, and now the internet as their favorite news sources. Do you think people will wait for the Seattle Times to find out?
Read between the lines: Boxes for removing personal items and shredding bins are scheduled to be delivered to the PI floors this week.
Clues suggest Hearst plans to close the P-I shortly
The New York Times sold off the majority of its new sky scraper in New York and has a long-term rent agreement. The company no longer owns the roof over its head.
Next, McClatchy announced massive layoffs, and Hearst’s Seattle PI is about to turn into a shadow, online only edition. Meanwhile, back at Hearst’s figurative flagship, the San Francisco Chronicle, the Media Guild has accepted big cuts just to keep most jobs. The Denver Rocky Mountain News shut down a week or so ago.
McClatchy Co. is shearing another 1,600 jobs in a cost-cutting spree that has clipped nearly one-third of the newspaper publisher’s work force in less than a year.
The latest reduction in payroll announced Monday follows through on the Sacramento-based company’s previously disclosed plans to lower its expenses by as much as $110 million over the next year as its revenue evaporates amid a devastating recession.
The layoffs will start before April. No fooling.
Several of McClatchy’s 30 daily newspapers, including The Sacramento Bee and The Kansas City Star, already have decided how many workers will be shown the door. Close to 2,000.
Just 43 percent of Americans say that losing their local newspaper would hurt civic life in their community “a lot,” according to a Pew Research poll. And even fewer, only 33 percent say they will miss their local newspaper if it folds.
Back to the West Coast
Negotiators for the Guild and the San Francisco Chronicle reached a tentative agreement Monday night changes to the collective bargaining agreement in line with cost cuts planned by Hearst.
The agreement will require approval by Chronicle Unit Guild members. (They will approve or lose their jobs wholesale).
A ratification meeting will be scheduled as early as Thursday of this week. Time and place will be announced on Tuesday as soon as a large enough facility can be secured.
In view of the latest terms agreed today, the Guild Negotiating Committee recommends membership approval.
The terms reached late Monday include expanded management ability to lay off employees without regard to seniority. All employees who are discharged in a layoff or who accept voluntary buyouts are guaranteed two weeks’ pay per year of service up to a maximum of one year, plus company-paid health care for the severance term, even in the event of a shutdown – which today’s agreement is designed to avoid.
Guild membership will remain a condition of continued employment for all employees. However, new hires in certain advertising sales positions will be given the option of membership, even though they will retain Guild protection under the contract.
On-callers will be limited to no more than 10 percent in any classification or department.
Pension changes are not part of this agreement, but are being discussed by pension authorities and must be implemented under terms of the Pension Protection Act, due to the recent declines in investment markets. Because those changes may affect the decisions of many members concerning buyouts, we are attempting to reach some key understandings now as to the nature of the changes and when they will take effect.
A lunch-hour meeting on Wednesday March 11, with our pension plan’s lawyer will be held at the Guild Office, 433 Natoma, Third Floor Conference Room.
A bulletin summarizing all the proposed contract changes will be issued Tuesday. A set of the complete proposed amendments will be available on the Guild’s Web site (mediaworkers.org) as soon as possible.
Management is seeking to change the union contract as part of an attempt to cut costs and keep the paper operating under the ownership of the Hearst Corp.
The company said Feb. 24 it would sell or close the paper unless the Guild agreed to changes in the labor agreement in effect through June 2010.
The leaders in the former cash cow industry thought they could just transform to their pages of expensive advertising to Web pages. Sorry. The Web is very competitive and readers will not put up with page after page of ads to follow the news.
McClatchy is down for the count. The stock is hovering below $1 and will soon be kicked out of the New York Stock Exchange.
The The Sun of Myrtle Beach and the Macon Telegraph — McClatchy papers, announced last week that they were outsourcing printing, they joined what one experts are calling the last stage of the dying industry.
Chuck Moozakis, editor-in-chief of Newspapers & Technology, found in a December survey piece that the flight from printing includes mid-sized papers like the two last week, small papers, but also very big ones like the San Francisco Chronicle. Dow Jones has already closed plants in Denver and Chicago and could shutter 10 of the 17 around the country that have printed The Wall Street Journal.