Thursday, December 17, 2009

More Than 15,000 People Have Lost Their Jobs in 2009 in Newspaper Industry

At least 15,000 people have lost their jobs in the newspaper industry in 2009, News Cycle's list of layoffs and buyouts now shows, and the list will grow before the year is out. While newspaper executives expect a better year in 2010, marketing pros are predicting further declines in print advertising revenue.


In December alone, 705 buyouts and layoffs have already been announced. That is the most in any single month since July. That means 15,093 people have received their pink slips or have opted into a buyout package in the newspaper industry this year.


In addition, there are fears of another round of layoffs at The Los Angeles Times that could reach as many as 40 people.


Reducing payroll expenses has had its anticipated effect on newspapers as profits are on the rise once again, as The Associated Press reported last week:


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