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Another Buyout Offered At The Providence Journal

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In the latest move to reduce spending, The Providence Journal is offering a buyout to employees of the statewide newspaper. Providence Newspaper Guild ...

In the latest move to reduce spending, The Providence Journal is offering a buyout to employees of the statewide newspaper.

Providence Newspaper Guild President John Hill, a reporter, said management told the union it is trying to hit a financial target for reduced spending, although it didn't share that figure with the Guild.

Hill said the standard offer for Journal employees is a lump sum payment for up to 12 weeks pay, although 40-year employees are being offered up to 24 weeks pay.

The Journal has experienced an increasingly frequent series of layoffs and buyouts since 2008, as the paper -- like its counterparts elsewhere -- has faced shrinking ad revenue. The cuts include changes made in 2011, 2012, 2013, 2014, and 2015.

Despite the cutbacks, the Journal retains the largest reporting staff in the state.

Under the latest buyout, people accepting the offer would work their last day at the Journal January 31. The deadline for accepting the offer is next Monday.

Hill said the ProJo -- now owned by GateHouse Media -- reserves the right to retain employees even if they express interest in taking the buyout.

Another Buyout Offered At The Providence Journal
Another Buyout Offered At The Providence Journal