Well, that was fast, wasn’t it?
Two weeks after the Tampa Tribune was purchased by a Los Angeles-based private-equity investment group, the paper is cutting employee wages and offering buyouts.
A memo (originally published on the Romenesko website) was sent to Trib employees Monday morning with the headline “Pay adjustment and voluntary severance program.” Sent by the Tampa Media Group (the new company created by Revolution Capital Group to run the Tribune), the message stated that all Trib employees are being offered a “voluntary severance program” up until October 26.
Employees will also see their pay reduced, or, as the memo euphemistically puts it, “We will also be adjusting individual pay rates, effective immediately.”
See the full text below:
This article appears in Oct 18-24, 2012.
