Posted on 09/09/2010 1:52:07 PM PDT by abb
By most accounts, The Washington Post Co. promised to sell Newsweek to Sidney Harman last month largely because his bid promised to keep the most employees in place. The question of layoffs at the struggling magazine has since seemed more a matter of “when” than “if.” The future cleared up a little on Wednesday at a company meeting held by Harman and chief executive officer Tom Ascheim at the magazine’s Hudson Street offices. Staffers learned their new owner will retain 75 percent of the company’s employees, and that the entire workforce will receive letters on Sept. 24 containing either a job offer or a severance package, a source with knowledge of the meeting said. When The Washington Post Co. announced the sale on Aug. 2, a spokeswoman for the publisher said the magazine had 350 employees, which would mean about 90 severance deals. The final number could be less, given the flood of high-profile editorial departures in the last month.
ping
“We are all socialists now” cover story...
Wonder what went wrong??
Going going ........
“containing either a job offer or a severance package”
It’s safe to assume that the job offer will be at a lower rate of pay...but, you can always quit.
I wonder if the knee-pad Marxist phonies will find work sniveling at the WH?
Story out today the New York Times will be strictly online soon.
Bye bye LSM!!!!
I wonder if they could get some TARP money to keep all their staff for a few more years? The are obviously and asset to the Democrats, and they are in trouble...
Is Newsweek now worth $.75?
Well, they have already completely stopped printing ads...
The only value left in the company is the name: NewsWeek.
But honestly, in an era of instant news, what good is a name that advertises it is a week behind the current news?
NewsDay (taken)
NewsHour (probably taken)
NewsMinute
NewsSecond
NewsNow
All are better names in the internet age.
http://www.broadcastingcable.com/article/456889-TIA_Storming_Hill_And_FCC_On_Title_II.php
TIA Storming Hill, And FCC, On Title II
http://news.yahoo.com/s/yblog_upshot/20100909/pl_yblog_upshot/newsweeks-weymouth-heads-to-washington-post
Newsweek’s Lally Weymouth heads to Washington Post
It's probably more accurate to say that no advertisers are buying ad space any more.
“Newsweek’s Lally Weymouth” is the mother of the publisher of the Washington Post, a part-owner of the corporation, a Graham and impossible to fire.
http://www.niemanlab.org/2010/09/an-attention-deficit-ethan-zuckerman-on-the-supply-and-demand-of-foreign-news/
An attention deficit: Ethan Zuckerman on the supply and demand of foreign news
There is no news in Newsweak. It’s all opinion.
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