Newsday to lay off employees amid advertising and marketing drop
Newsday Media Team is laying off staff members as the coronavirus has accelerated a drop in advertising. The organization on Thursday declined to specify the amount of employees affected.
Publisher Debby Krenek mentioned the layoffs will only affect non-newsroom departments, these as promotion, facts technological know-how, marketing, operations organizing and stability. The Melville-dependent media organization has a complete workforce of 650.
“It is crystal clear soon after the pandemic that the declines in advertising and marketing revenue we have found in the past calendar year will continue to be a obstacle,” Krenek reported in an email to workforce. “We obtain that we need to make the hard decision to remove roles in specific parts to strengthen the monetary steadiness of the firm and to allow for us to keep on to invest in the expansion regions of the business enterprise.”
Krenek claimed the layoffs are successful Jan. 29, even though some personnel will continue on doing the job as a result of March.
The severance package deal for comprehensive-time workers incorporates two weeks’ shell out for every single calendar year of support up to a highest of 52 weeks of pay out and a minimum of three months’ pay back for workers with fewer than just one 12 months of company, overall health insurance policy for 3 months, and outplacement companies to protected new employment, corporation spokeswoman Kim Como stated.
Newsday, which turns 81 this September, is amid a growing number of publishers and broadcasters to announce position cuts. Nationwide, far more than 30,700 work had been eradicated past 12 months in the media sector, which includes news, advertising and marketing and tv and movie output, according to facts from the outplacement company Challenger, Gray & Xmas Inc. in Chicago.
James T. Madore writes about Long Island small business information which includes the economic climate, improvement, and the romance amongst government and business enterprise. He formerly served as Albany bureau chief.
