Thursday, February 23, 2012
Breaking News Tennessean To Accept 25 Employee Buyouts
Posted by Jonathan Meador on Thu, Feb 23, 2012 at 4:03 PM
With news of Gannett's decision to implement a paywall for its 80 regional newspapers by year's end still fresh, Pith has learned details of the media conglomerate's decision to offer buyouts to hundreds of employees.
Bob Faricy, vice president of marketing development for Tennessean Media Group, responded via email that of the 40 buyouts Gannett is rumored to have offered The Tennessean, 32 employees are eligible for the "early retirement" option.
Faricy says The Tennessean, which experienced a brutal round of layoffs less than a year ago, will accept 25 buyouts in the latest round of blood-letting at 1100 Broadway.
"Other information about the makeup by department and specific package details is not being released on a local level," writes Faricy.
Faricy also shed some light on the proposed paywall.
"As for the new subscription model, it's important to note that it is a metered model rather than a hard wall. Additionally a number of areas, including classifieds like Cars.com and CareerBuilder, will remain accessible to all consumers," Faricy wrote. "It is my understanding it will be rolled out across the entire US Community Publishing Division. Pricing is yet to be determined, along with other details of how it will be implemented locally."
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