The Birmingham News offered buyouts today to employees, the third round of buyouts in 16 months. Media of Birmingham has learned that all employees will be eligible this round, regardless of number of years of service or full-time or part-time status.
Past buyouts were limited to those with at least 5 years of service.
Our insiders tell us that full-time employees taking the buyout would receive 2 weeks of pay for every year of service, while part-time employees would receive 1 week of pay for every year of service. Both are capped at 6 months.
The daily newspaper is looking for “substantial staff reductions,” this time, but says no layoffs are planned for Feb. 6, when the Advance Publications’ “no layoff” pledge expires. The newspaper has not only faced an advertising shortfall because of the down economy but also a 10.8 percent drop in weekday circulation.
Earlier this year, the News cut benefits and required furloughs.
Meanwhile, the Birmingham News will look for a publisher to replace recently retired publisher Victor Hanson III.
Update Dec. 9: Another insider tells us that the buyouts have been offered at the other two Advance newspapers in Alabama: the Huntsville Times and the Press-Register in Mobile. Also, the buyouts are apparently limited to non-union employees.
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