Cleveland's 'Plain Dealer' Joins Buyout Trend (More Layoffs - Dinosaur Media DeathWatch™)

Editor & Publisher ^ | August 11, 2006 | Staff

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NEW YORK The Plain Dealer in Cleveland today announced a voluntary employee buyout plan, one day after the Dallas Morning News said it was seeking 85 newsroom cuts via the same route.

Editorial and business office workers 50 and older with at least 20 years' service are eligible for a payment equal to 2-1/2 years of salary, the Plain Dealer revealed this morning. "There are several options for receiving the payment, including a lump sum," the paper stated. "Employees under 50 with at least 20 years' service can receive two weeks' pay for each year of service, also payable in several ways. Workers taking the buyouts keep certain benefits. Employees have two weeks to ask for more information and 45 days after that to decide whether to take the buyout.

In a written statement, Plain Dealer Publisher Terrance C.Z. Egger said "In order to be as efficient as possible and to continue to provide our readers and advertisers with a high quality newspaper, we need to adjust our expenses to coincide with our revenue. We are pleased to show our respect for and recognition of our employees with an extremely attractive program. This program is completely voluntary and we are proud to reward The Plain Dealer's long-standing employees with an opportunity for financial assistance as they make a very personal decision."

Egger took over as publisher of the newspaper just this past spring, coming from the St. Louis Post-Dispatch.

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Friday Afternoon Good News...

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Raoul's First Law of Journalism
BIAS = LAYOFFS

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Ping

[steve8714]

What will all those Woodward wannabes in J-school do after graduation?

[steve8714]

What will all those Woodward wannabes in J-school do after graduation?

[Eric in the Ozarks]

We've gone on to better things.

[IronJack]

What will all those Woodward wannabes in J-school do after graduation?

I'll give you a hint: Hamburglar and Mayor McCheese live there.

[Dr. Bogus Pachysandra]

The Plain Dealer sucks. Believe me, I had to read it this morning. Well, I didn't have to read it, but I wanted to hear the far-left slant on the news!

[Milhous]

What will all those Woodward wannabes in J-school do after graduation?

[Right Wing Assault]

I wanted to hear the far-left slant on the news!

Or to try to find the big news articles that are totally missing. Or to see articles I read three days ago on the web.

[GeronL]

I love these.

[GeronL]

Hey, Domino's is 'owned' by a conservative isn't it?

[Loyal Buckeye]

The Cleveland Plain Dealer is affectionately know as the Cleveland Double Dealer.

[BW2221]

It's publicly held now. Tom Monahan owned it. He used to own the Detroit Tigers before selling it to Mike Illich, who owns Little Caesar's.

Monahan is big into the Catholic religion now. He started Ave Maria University and donated the land the new Ann Arbor Fr. Gabriel Richard high school was built - a Catholic school in Ann Arbor - who would have thought???

[Ukiapah Heep]

The sooner this hate rag is out of business, the better. And take Feagler with you.

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More here...
http://www.cleveland.com/search/index.ssf?/base/business/1155371451275120.xml?bxbiz&coll=2