DFM latest to drop the axe

This article, which is from a group of DFM workers newsletter, says the Denver Post laid off 13.

 

I wonder longer LANG has. A document was leaked that indicated in the period ending June 30, 2017 LANG had margins that were only about eight percent, while other papers in the chain had much higher margins.

Leaked financial report shows jaw-dropping profits for ‘outlaw’ newspaper owner

LANG also is facing a competitor in the LA Times that has an owner who is much more willing to invest in the product than DFM. So LANG has less flexibility to raise subscription rates, etc. to increase short term profits. Given the revenue declines the industry has seen since 2017 and now this I wonder if LANG makes it to Christmas.

 

Thirteen total, four in the newsroom, I believe. I've heard no reporters were lost.

 

It will be interesting to how many in the suburban Philly cluster take the voluntary buyout offer. The buzz is take it or be laid off next year when the current contract prohibition against layoffs expires. We'll know by Tuesday how many decided to accept. I'm predicting more than one dozen will decide to go now.

 

From BANG's 49ers beat writer.

 

I'm hearing all freelancers and paid contributers are gone at the Philly area papers as of Friday. Sports and news sides.

 

Is it true there were severe cuts made at DFM properties this week? I mean in the last 48 hours. Any other industry moves to conclude the week? Remember allegedly most cuts are made on Fridays.

 

Yep.