Stop the presses; Gannett offers buyouts

Dateline: Sun 24 Jun 2007

in Hawaii, anyhow. Here's the report from the Poynter Institute regarding the Honolulu Advertiser, the biggest paper in Hawaii. The source is Pacific Business News:

"The Honolulu Advertiser is offering enhanced retirement packages to 86 workers in an effort to reduce its staffing.

"In a letter to employees Thursday, publisher Mike Fisch said the company wants to reduce its work force by 30 positions "to adjust our operating plans to meet the new market realities."

"Fisch said the company is asking employees 55 and older with up to 20 years of service to consider the retirement offer, which is being made to both union members and non-members.

"He did not specify the details of what he described as an "attractive benefits package."

"Fisch cited the changes in the newspaper industry nationwide, which is experiencing a circulation and revenue downturn as readers and advertisers move to the Internet, and also cited the slowing of the local economy."

The Honolulu Advertiser is the state's largest daily newspaper, with about 900 full-time and part-time employees, adds Pacific Business News.

There is absolutely no forecast that Gannett is considering this at other publications, but we all know people who would take the offer in a heartbeat.


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