Still more cuts coming at the Star Ledger

by: Jason Springer

Wed Oct 14, 2009 at 01:15:00 PM EDT

To: Full-Time Employees

From: George Arwady

Subject: VOLUNTARY BUYOUT OFFER

Consistent with my updates to you, the revenue situation at our newspaper has worsened this year, and we expect a further significant revenue decline next year.

We are working on the budget for 2010, and it is clear that we must reduce our staff significantly to offset the continuing steep decline in revenue. My best estimate is that the full-time workforce must be reduced by at least 50 people.

Accordingly, we are announcing another voluntary buyout offer. Full-time, non-represented employees can apply to receive 2 weeks' pay for every year of completed service, capped at 26 weeks' pay, along with medical coverage for the severance period. The newspaper reserves the right to reject applications based upon business needs.

We sincerely hope that we meet our staffing goals through this voluntary buyout offer. If we do not, we will need to resort to other ways of reducing our employee costs, which could include involuntary layoffs.