Posted on 08/17/2007 9:47:03 PM PDT by LdSentinal
PORTLAND -- The Portland Press Herald/Maine Sunday Telegram laid off eight employees Friday because of falling revenues amid a "seismic shift" in the industry, the papers' publisher said. Charles C. Cochrane, publisher of the Portland newspapers, said the layoffs are an attempt to "regain some balance" between the falling revenues and expenses, even though steps taken earlier in the year have kept costs flat compared to last year.
Those laid off included managers along with employees represented by the Portland Newspaper Guild, said Robert Bickler, president and general manager of the newspapers. The papers' entire work force consists of about 380 full-time equivalent positions.
In a memo to employees, Cochrane said year-to-date revenues are "running well behind last year -- and last year's revenue results were behind the year before."
In addition to the layoffs, Cochrane said some vacant positions will remain open indefinitely and the company will attempt to contain part-time hours.
Cochrane said the Portland newspapers face the same challenges as other newspapers, with readers turning to online sources of information and advertisers following them.
The papers will have to deal with the industry transformation for at least the next two years, he said, but "there is good reason to retain a great deal of optimism about our longer-term future."
The Kennebec Journal and Morning Sentinel are part of Blethen Maine Newspapers.
Ping.
Anyone who trades the markets knows that feeling in a down market when the bottom just seems to fall out and prices free fall. That’s the same feeling I’m getting reading about all these newspaper layoffs.
This isn’t downsizing folks, it’s the beginning of the end. In 10 years, if not sooner, print media will be a novelty and the exception, not the rule.
“seismic shift” in the industry,
Ha. Seismic leftist bias in the industry.
Clean up on aisle 13...
I live in Maine, and the whole lot of them are liberal rags. I dont even read them anymore...but they are good for starting a fire in the stove come winter.
“Anyone who trades the markets knows that feeling in a down market when the bottom just seems to fall out and prices free fall. That’s the same feeling I’m getting reading about all these newspaper layoffs.
This isn’t downsizing folks, it’s the beginning of the end. In 10 years, if not sooner, print media will be a novelty and the exception, not the rule.”
This trend of downsizing started shortly after the 2004 elections and has picked up speed each week.
My grandkids, age 6 and 8 may never know what a newspaper is. Their parents don’t subscribe to the local and regional left wing fishwraps. In ten years, news papers will be in same category of buggy whips, dodo birds and other extinct businesses and critters.
“Endorsed Ho Chi Kerry in 2004.”
Then, they probably used the Dixie Chick liberal business model and poed any Republican subscribers and advertisers left in the state.
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