Oh shit.
Chris | February 24, 2009 | 3:36 pmWell here it is:
Mark Adkins, President, made the announcement at 2:15 – as of 2:30 this afternoon, San Francisco Chronicle management is in negotiations with the union to start making emergency cuts in expenses to try an stem a $50m operating loss. Partial from the memo by Frank Vega, Chairman and Publisher:
First and foremost of these cost savings will be a significant reduction in force across all areas of our operation affecting both represented and non-represented employees. We will shortly begin discussions with union leadership on proposals. Our current situation dictates that we accomplish these cost savings quickly. Business as usual is no longer an option.
If we are unable to accomplish these reductions in the immediate future, Hearst Corporation, which owns The Chronicle, has informed us that it will offer the newspaper for sale or close it altogether. We know these are painful times for everyone and we face difficult choices. We share in the sincere hope that we will reach agreement with all parties involved on the concessions needed to continue to operate and provide the Bay Area with a quality newspaper.
And here we are. Dammit I think I might be losing my job.











