N&O offers buyouts to about 320 employees

RALEIGH, N.C. — The News & Observer of Raleigh has offered voluntary buyouts to about 320 employees as publisher McClatchy Co. continues to face declining advertising revenue.

The newspaper reported Wednesday that about 40 percent of its workers, including all newsroom employees, will be offered buyouts.

Publisher Orage Quarles III said the company expects a small percentage of employees to accept the offer.

The buyouts mark the newspaper's third cost-cutting move in the last five months as part of McClatchy's cost-cutting efforts.

In April, the newspaper offered voluntary buyouts to 230 employees, and 33 accepted. In June it enacted layoffs to 70 employees. Last month, it implemented a one-year wage freeze.

California-based McClatchy Co. is the second-largest U.S. newspaper publisher. It also publishes The Charlotte Observer, which also reported Wednesday that most of its 810 full-time employees will get buyout offers.

Its publisher, Ann Caulkins, said the newspaper also anticipates low turnout but plans to eliminate about 75 positions by Oct. 3.

The buyouts mark ongoing efforts by both newspapers to deal with the slumping economy.

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My mom is 86 years old, subscribes to the N&O and reads it everyday. She does not have access to the internet so this and local TV news are her connection to the outside world. She tells me on a daily basis how much the paper has changed from what it used to be. It's a shame that this part of the population has to settle for a mediocre product.

Joy
September 4, 2008 2:09 p.m.

Now they are cutting even more of the content. I'm canning my subscription.

APPMAN
September 4, 2008 9:41 a.m.

How deserving! Watching the biased, Democrat mouthpiece die the death of a thousand cuts. The broadcast "news" media will be the next to go. The sooner, the better.

EyesintheSkies
September 4, 2008 9:38 a.m.

I hate to hear that local workers are being affected but...

THIS IS SO AWESOME!!! The N&O has always had a terrible, leftist slant on top of poor quality writing with a dash of predatory subscription soliciting.

Couldn't happen to a more deserving paper.

Justin T.
September 4, 2008 8:18 a.m.

The tired liberal pap has finally caught up with the News and Observer. Good riddance.