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Summary:

It’s only slightly less worse than the layoff news that’s been plaguing the newspaper industry lately: The McClatchy Company (NYSE: MNI) is…

imageIt’s only slightly less worse than the layoff news that’s been plaguing the newspaper industry lately: The McClatchy Company (NYSE: MNI) is implementing a one-year wage freeze starting Sept. 1. In a memo posted on Romensko, Debbie Abels, president and publisher of McClatchy-owned Rock Hill, SC daily The Herald, said this freeze is being instituted throughout McClatchy, including at the corporate level and McClatchy Interactive. This means McClatchy employees who are due to receive a merit or salary review between September 1, 2008 and August 31, 2009, will have to wait one year later than scheduled. The freeze doesn’t affect salary increases tied to promotions or minimum wage adjustments.

In June, McClatchy said it was cutting about 1,400 positions through a mix of buyouts and layoffs. But as Abels tells Herald staffers, attempts to right the company’s balance sheet haven’t gone far enough. Separately, the move follows McClatchy’s sale of its local newspaper rep firm Real Cities to Centro for an undisclosed amount.

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  1. Except, of course, that it won't avoid any layoffs.

  2. charlotte pressman Monday, August 18, 2008

    more volentary buy outs on the way at charlotte obs,
    this was made by the heads of my department in the pressroom

    I have heard that 60 people is the magic number,for the building

  3. found on the web Monday, August 18, 2008

    More layoffs are coming to the News & Observer, staffers say (or maybe that should be “reporters report”).

    In his weekly meeting with the news staff Wednesday, editor John Drescher told journalists to expect more job cuts to be announced by corporate executives in September. The next day, publisher Orage Quarles told the staff in a company-wide email message that the N&O;was “implementing an across-the-board, one-year wage freeze effective September 1, 2008.” The memo went on to say the pay freeze was being instituted everywhere within McClatchy, the N&O;’s parent company.

    Two other bits of information have leaked out of the newsroom recently: First, that the weekly entertainment section What’s Up apparently is headed for extinction; and second, that the N&O;and the Charlotte Observer (also a McClatchy paper) are working on ways to produce a single Sports section and a single Features section for both papers.

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