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Fit To Print

And Now The Other Shoe Drops

Philip M. Stone May 21, 2008

There was great joy when Hearst announced last month it was investing some $60 million in new printing presses for the Albany Times Union that will allow the newspaper to go color on every page when installation is completed by late 2011. But now the other shoe has dropped – the newspaper wants to drop a full 6% of its workforce.

Publisher Mark Aldam says he needs 30 jobs gone, hopefully by voluntary buyout or otherwise layoffs. Thirty jobs may not sound so much, but the newspaper has only 485 employees.

Its circulation in the last audit to end March was 89,256, a 3.3% drop. Aldam says he wants to lower print’s costs where revenues are declining so he can invest more in digital where revenues are “growing robustly”.  But like nearly all newspapers digital’s extra income is not overcoming print’s losses.

 

 

 

ftm followup to:

There Are Still 'Good News' Stories About the Newspaper Industry, It’s Just That There’s Not So Many As There Once Were And You’ve Got To Look A Little Harder To Find Them - April 2, 2008
When a major publishing house such as Hearst announces that it’s investing some $60 million on new printing facilities for one of its metropolitan newspapers It’s the kind of news that sends a big positive message to Wall Street, Main Street, and, yes, even the folks who work on newspapers who by now must be getting pretty demoralized over all the bad news continually out there.

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