It's only January, but the cruel impact of the recession is already been felt by major newspapers in big and depressing ways.
The first to take drastic action is the Copley-owned San Diego Unon-Tribune, which is already up for sale, with no buyer in sight. Gene Bell, the Union-Tribune Publishing Company CEO, sent out a memo to employees that laid out a series of Draconian cuts that will be painful in the extreme.
The measures included:
- Increasing employee contributions to health insurance premiums (they will now be required to pay 20 percent of monthly premiums)
- Salary reductions ranging from 9% to 18%
- Buyout packages providing 1 week severance for every year worked, rather than the customary two, for a maximum of 26 weeks
- Suspending company matches to 401(k) accounts
- Mandatory work furloughs of 1 to 2 days a month
Morale at the UT must be so low that it's a miracle staffers are able to mobilize the enthusiasm or drive that is needed to produce a high quality newspaper 365 days a year. Bell seemed to acknowledge the problem when he said, "As we move forward, I ask only that each of you continue to do your professional best. I pledge the same in return and thank you for your understanding and support during this difficult period."
Bell at least acknowledged the pain these measures will inflict on employees. "We fully recognize the individual sacrifices the following actions require," he said. "They are indeed difficult, but absolutely necessary for our survival in these extraordinary times."
The message, however, is that newspapers have become economic albatrosses that owners, increasingly, would love to shed, but can't.
