Chief
02-21-2008, 07:44 PM
http://www.columbian.com/business/businessNews/2008/02/02212008_Columbian-eliminates-30-jobs.cfm
Thursday, February 21, 2008
By JULIA ANDERSON, Columbian Staff Writer
Faced with a weakened local economy, The Columbian publishing company announced a restructuring that will eliminate about 30 jobs from its 360-person work force.
Nineteen employees were laid off Wednesday with the remainder of the reductions coming from vacant positions that will not be filled.
Publisher Scott Campbell said the company has struggled to meet revenue projections over the past year due to a weak economy, particularly in real estate, automotive, and retail advertising. “We tend to reflect the business trends of the local economy, and some of our key customers are struggling,” Campbell said. “We hope this will quickly improve for them, and for us.”
Over the past year, the company imposed selective job elimination as positions came open, but it was not enough to respond to the economic situation. Departing employees are being given a severance package and job outplacement services.
The Columbian is the sixth largest newspaper in Washington, and among the larger independent newspapers in the U.S. Only 10 percent of the nation’s 1,800 daily newspapers remain independently owned. The rest belong to national chains.
Campbell said The Columbian had hoped to escape budget reductions being implemented by news organizations across the country, but “the economy just caught up with us.”
In January, The Columbian moved most operations to a new building in downtown Vancouver. Owned separately by a Campbell family real estate company, the building is meant to generate lease income to help pay for its construction.
Bummer. I guess Scotty has to pay for that new building somehow...
Bet is wasn't the 30 people that needed to go the worst...
::)
Thursday, February 21, 2008
By JULIA ANDERSON, Columbian Staff Writer
Faced with a weakened local economy, The Columbian publishing company announced a restructuring that will eliminate about 30 jobs from its 360-person work force.
Nineteen employees were laid off Wednesday with the remainder of the reductions coming from vacant positions that will not be filled.
Publisher Scott Campbell said the company has struggled to meet revenue projections over the past year due to a weak economy, particularly in real estate, automotive, and retail advertising. “We tend to reflect the business trends of the local economy, and some of our key customers are struggling,” Campbell said. “We hope this will quickly improve for them, and for us.”
Over the past year, the company imposed selective job elimination as positions came open, but it was not enough to respond to the economic situation. Departing employees are being given a severance package and job outplacement services.
The Columbian is the sixth largest newspaper in Washington, and among the larger independent newspapers in the U.S. Only 10 percent of the nation’s 1,800 daily newspapers remain independently owned. The rest belong to national chains.
Campbell said The Columbian had hoped to escape budget reductions being implemented by news organizations across the country, but “the economy just caught up with us.”
In January, The Columbian moved most operations to a new building in downtown Vancouver. Owned separately by a Campbell family real estate company, the building is meant to generate lease income to help pay for its construction.
Bummer. I guess Scotty has to pay for that new building somehow...
Bet is wasn't the 30 people that needed to go the worst...
::)