Lee Enterprises has decided to lay off another 18 St. Louisans who it employed at the Saint Louis Post-Dispatch. This is the fifth round of layoffs in the past two years under the management of Lee Enterprises.
The logic imparted to labor by Lee was the layoffs were needed due to "declining revenues". As has been written here previously, Lee took on too much debt when it bought the Post from Pulitzer Publishing several years ago. Add to that newspapers are experiencing rapid loss of circulation due to new media, and the Post is not going to get better. And Lee's management record at the Post has been to make bad decisions. The bean counters have vetoed the people who know the newspaper business.
To read the union take on the latest round of layoffs you may click here.
Showing posts with label Newspaper Guild. Show all posts
Showing posts with label Newspaper Guild. Show all posts
August 23, 2009
March 05, 2009
Post - Dispatch Continuing to Lose Money Hand over Fist
"The St. Louis Post-Dispatch" appears to be slowly driving it's parent corporation Lee Enterprises into bankruptcy. The Post has resorted to placing advertising stickers on the front page in an effort to bolster declining revenues. (See previous posts about the meaning of advertising on the front page of a daily newspaper). I've said before the Post-Dispatch has no integrity. But, now I would say it is going broke AND has no integrity.
On top of this, the paper's employees have voluntarily agreed to week long furloughs for all Newspaper Guild members at the Post. Labor has a contract with the company, but for some reason agreed to have it's members take a week off of work without pay. To me this is the height of stupidity on labor's part. The employees did nothing to drive Lee's stock down to less than 50 cents a share. This is a management problem and management needs to pay the price. Lee Enterprises should stick to running the "Park Hills Daily Journal" and similar small town operations.
If I were a guild member at the Post I would be getting rid of the current leadership and setting up a slate of candidates to replace them at the next newspaper Guild elections. But, then it may be academic since Lee appears headed for bankruptcy.
On top of this, the paper's employees have voluntarily agreed to week long furloughs for all Newspaper Guild members at the Post. Labor has a contract with the company, but for some reason agreed to have it's members take a week off of work without pay. To me this is the height of stupidity on labor's part. The employees did nothing to drive Lee's stock down to less than 50 cents a share. This is a management problem and management needs to pay the price. Lee Enterprises should stick to running the "Park Hills Daily Journal" and similar small town operations.
If I were a guild member at the Post I would be getting rid of the current leadership and setting up a slate of candidates to replace them at the next newspaper Guild elections. But, then it may be academic since Lee appears headed for bankruptcy.
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