The Tampa Bay Times, beset by many of the same revenue challenges facing local news providers across the country, announced Tuesday it needed to reduce payroll by 20%, part of a series of cost-cutting measures.
The Times, the recipient of 14 Pulitzer Prizes, said it would offer buyouts to its roughly 270 full-time employees, which includes about 100 journalists in the newsroom.
In a letter to Times staff, Chairman and CEO Conan Gallaty said employees have until Aug. 16 to decide if they want to seek a buyout package that maxes out at 12 weeks pay.
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