Projo management seeking $1.2M in concessions or layoffsOctober 11th, 2012 at 3:14 pm by Ted Nesi under Nesi's Notes, On the Main Site
The Providence Journal’s executives are seeking about $1.2 million in concessions from their workers to deal with falling advertising revenue, a person familiar with the matter told WPRI.com on Thursday.
It’s estimated reaching that level of savings would require around 15 layoffs, but it’s unclear whether those will be ordered or if the paper’s union will get the chance to make an alternative offer, the person said.
Messages were left with Providence Newspaper Guild President John Hill seeking more information. The Journal’s work force has shrunk by a third since 2008 to an estimated 468 employees, about 220 of whom are members of the Providence Newspaper Guild.
Update: The Providence Phoenix’s Dave Scharfenberg has more information.
• Related: Union: Providence Journal to disclose plan for layoffs Tuesday (Oct. 5)