By: E&P Staff The San Francisco Chronicle is asking for at least 125 employees to consider taking a buyout package before the end of the year.
"Obviously, we're not the first newspaper to be affected by the continuing downturn in advertising," Publisher Frank Vega told the paper. "We are hopeful that by opting for our employees to voluntarily sign up for buyouts we can avoid any type of layoffs going forward."
The buyouts extend to employees who are represented by the Northern California Media Workers' Guild as well as non-union staffers.
The San Francisco Weekly's John Geluardi reported that the buyout package will include two weeks of pay for every year of service with a cap of 52 weeks.
A few higher-level executives were let go from the paper, including advertising Vice President/Classified Phyllis Weber. When asked about the situation last week, Vega told E&P he had no comment.
The Chronicle axed 100 employees from the ranks last year.
"They're cutting deep into muscle, sinew and bone now," guild representative Carl Hall told Geluardi. "It seems like the entire industry is in a death spiral."
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