By: E&P Staff
The Sacramento Bee is the latest paper to extend buyouts to employees.
Management is looking to target roughly 28 eligible staffers in the support areas of finance, human resources, production, and circulation. The Bee employs 1,400 people.
“At the end we expect that less than 2% of our work force would be approved to participate in the program,” Ed Canale, the paper’s vice president for business development told Bee reporter Jim Wasserman.
Wasserman reported that the paper’s revenue dropped 17% to $211 million in 2007.
The Bee’s publisher said the buyouts were necessary in order to focus on online and niche products.