The financially struggling Detroit News is offering buyouts to all of its reporters, photographers, copy editors and other newsroom employees in a move that raises questions about the newspaper’s ability to survive.
Editor and Publisher Jonathan Wolman sent a memo to the entire editorial staff, alerting employees that everyone – regardless of age or seniority – may take a buyout to avoid massive layoffs. It’s unclear how many reporters and photographers would need to accept a buyout to avoid layoffs.
The news is yet another blow to the newspaper industry, which has been hemorrhaging advertising revenue as more people rely on the internet for stories. Web advertising only brings in a fraction of the money that newspapers do.
Under the buyout, an employee would receive one-week’s pay for every six months of employment.
The deadline to accept a buyout is Nov. 22.
The Detroit News began operations in 1873,
Steve Neavling lives and works in Detroit as an investigative journalist. His stories have uncovered corruption, led to arrests and reforms and prompted FBI investigations.