Monday, September 15, 2008

Round Two of Layoffs

The Daytona Beach News-Journal just announced a second round of layoffs, bringing to 140 the number of staffers who have been eliminated this year. Earlier this summer, the paper dismissed 99 workers.

Another 41 people will be jobless due to a continuing decline in advertising revenue. "The company’s financial performance has taken a dramatic turn for the worse over the past few months," said Jim Hopson, chief executive manager.

The News-Journal is on the auction block as a result of a falling out with its long-time partner Cox. Just months ago, the paper predicted its sale would be complete by November. That sounded preposterous then, and seems even more so today.

The News-Journal is not alone in its turn for the worse. Gannett released its August advertising numbers, and they are not good. Gannett took in nearly 17 percent less revenue in its publishing division in August versus a year ago. Employment classified revenue alone fell nearly 34 percent.

Stay tuned as other newspaper companies post their August numbers.

1 comment:

Ray said...

Despite all the stats, I see a ton of high paying jobs posted on employment sites - (professional networking) (matches you to the perfect job)

These folks will find more work