Charlotte Observer to offer voluntary buyouts
By Alexandra Zeumer, Tuesday 6 May 2008 at 22:31 :: Labor & Employment :: #1622 :: rss
The Charlotte (North Carolina) Observer will begin cutting staff numbers, offering voluntary buyouts to an unknown number of employees, the Sacramento Business Journal reported Monday.
The newspaper is making the cuts in an attempt to offset advertising revenue declines, the paper's Web site stated.
The Observer is owned by the Sacramento-based McClatchy Co. Other McClatchy papers offering buyouts to employees include The Sacramento Bee and The (Raleigh, North Carolina) News & Observer.
Ann Caulkins, the Observer's publisher, was not available to comment on how many employees the newspaper is looking to cut; however, the Observer will be cutting 13 part-time telemarketing positions and will be giving those employees severance packages, the Sacramento Business Journal reported. Staff cuts will reduce the company work force by less than five percent, and are expected to be completed by May 30, according to the report.
McClatchy reported a net loss of US$849,000 within the first quarter, due to advertising revenue declines, as well as revenue down 13.8 percent, to $488.3 million.
Advertising revenue dropped 15.3 percent to $404 million and circulation sales decreased 5.6 percent to $67.9 million. However, online advertising revenue increased by 10.6 percent within the first quarter from last year, according to the Sacramento Business Journal.
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