Magazine article Editor & Publisher

'Palm Beach Post' Parent Company to (Finally) Cut 300 Jobs

Magazine article Editor & Publisher

'Palm Beach Post' Parent Company to (Finally) Cut 300 Jobs

Article excerpt

Palm Beach Newspapers Inc., which owns both The Palm Beach Post and the Palm Beach Daily News, plans to cut 300 workers from its 1,350-person payroll, the Post reported today.

In a Web story, the Post quoted Publisher Doug Franklin saying, "A prolonged slump in our advertising revenues, increased competition from the Internet and an overall difficult economic environment have combined to make this type of cost reduction necessary."

Palm Beach Newspapers Inc., which also owns the Florida Pennysaver and La Palma, "hopes to make the cuts through voluntary buyouts offered to all employees who have worked for the company for more than five years," the paper added.

The Post story pointed out that its cuts follow similar recent reductions at The Miami Herald, South Florida Sun-Sentinel and St. Petersburg Times "as readers and advertisers move to the internet."

"We are the last major Florida newspaper to implement staff reductions," Franklin said. …

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