Buyouts Offered, Possible Layoffs Ahead for 'St. Petersburg Times'

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By: E&P Staff The St. Petersburg (Fla.) Times reports today that it will offer an "enhanced retirement option" to reduce its payroll ? and, depending on how many staffers take it, could resort to layoffs later this year. Remaining employees will face a one-year wage freeze.

In a letter to staff, Times Editor/Chairman Paul Tash said the measures were a response to a ?difficult economic climate? that has been especially hard on advertising.

To read the Times? report, go here.

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