Tuesday, August 19, 2008

Print Media Job Cuts in Indianapolis

Saturday the Indianapolis Star announced that it is cutting 23 employees throughout the organization. The cuts are part of a larger initiative by parent company Gannett to slash 1,000 jobs (40 percent of which they hope to achieve by attrition). The cuts amount to 3 percent of the workforce.

Says Star publisher Michael Kane, ""Unfortunately, in the short term we will be saying goodbye to some employees who have contributed to our success, and that will be difficult. The goal, however, is to strengthen our company for the future, and to get through this economic downturn in a way that positions us to grow."

Okay, that's pretty scary. The newspaper industry is in tumult and won't look the same when it all shakes out. I'm not sure the end of the downturn will be their salvation. But here's more news that will make you go "hmmm."

Local media giant Emmis Communications, publisher of magazines such as Indianapolis Monthly, Cincinnati Magazine, and Los Angeles Magazine, has announced that it is cutting 4.5 percent of its publishing team. But here's the hmmm part: They're cutting the salaries of the ones who remain by 2 percent. So while they're picking up the slack for their fallen coworkers, these poor folks are getting a pay cut, too? That's harsh.

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