By: Joe Strupp The Charlotte (N.C.) Observer announced Monday a voluntary buyout program for many employees, including most of the newsroom, a Web story said.
"The economy has been extremely sluggish," Publisher Ann Caulkins said in a newsroom meeting, the story said. "We haven't seen any sort of bottom."
Caulkins said she expects that only "a small percentage" of employees will take the buyouts, but offered no specific target number.
"The Observer's corporate parent, McClatchy Co., reported last week that its main source of revenue -- advertising sales -- is still unraveling at an alarming rate," the story added. "even as the annual comparisons are getting easier."