Friday, March 11, 2016

Miami Herald once again offering buyouts

One Herald Plaza (circa 2003)

UPDATED at 4:30 p.m. with this comment from a Herald insider: "Here's the rub: Most, if not all, of the older staffers who could take a buyout already have. Those who remain need to keep the job, even though they can see the writing on the wall, for as long as they can - in most cases for the health insurance or for family reasons or because they engaged in poor financial management throughout their careers. So, this time, it's inevitable that mid-career or younger staffers are going to get hit with involuntary layoffs."


Posted on Facebook yesterday by a Miami Herald staffer....
"Voluntary buyouts with usual separation package offered newsroom-wide (instead of targeting a particular department or class of employee). If they don't get enough -- and they haven't said how may they want. -- layoffs will follow."
A little bit later, that same staffer posted this:
"The optimistic point of view would be that there are enough people who've been saying to themselves 'If only I could get a buyout, I'd get out of here and write my novel/start a business/become a pastry chef/go fishing.'"

But unbelievable as it sounds, the Miami Herald still needs to cut costs. Unsure how how they'll do this since they're running on fumes, now.

Put another way: who's left?

Meanwhile, in other news, the Herald's parent company McClatchy, "in a filing with the Securities and Exchange Commission on Tuesday...said it will ask shareholders to approve a reverse stock split that would boost the company's share price."
"Last month McClatchy (NYSE: MNI) said the New York Stock Exchange had issued its second warning in a year that the company's share price was too low to remain on the exchange. The company has until August to fix the problem."

But despite the fact that earlier in the day, she'd threatened dozens of hard-working journalists with the loss of their jobs, Herald executive editor Mindy Marques Gonzalez wasn't going to let that prevent her from having some fun at last night's debate. Because who doesn't like posing for a stupid selfie or two?

But when all is said and done, the woman who's at least partly responsible for the Herald's decline these past few years, still gets to keep her job.

And the rest of you poor schmucks, well them's the breaks!

But things are bound to get better....don't worry....

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