Star-Ledger Warns of Sale
Management at the Star-Ledger warn of possible headcount reductions or face selling the paper entirely due to declining ad revenue.
The award-winning paper ranks as 15th largest in the nation, with a daily subscriber base of 375,000.
The Star-Ledger of Newark and a smaller sister paper need to eliminate at least 20 percent of their staff and win concessions from trade unions to stay afloat, their management said on Thursday, or the company will sell the papers and possibly close the smaller one.
The Star-Ledger’s publisher sent a note to its staff saying the paper must have 200 non-union workers take buyouts. The paper has about 1,000 employees, about three-quarters of them non-union.
The paper’s owner, Advance Publications, wants to buy out about 100 newsroom employees at The Star-Ledger, out of a total 330 to 350, the company’s president, Donald Newhouse, said.
We wish the best for our friends at the Ledger during these difficult times, and welcome their thoughts and feedback.