More Herald Belt Tightening

Over at One Herald Square, several new measures slated to go into effect at the end of the year seem aimed at further reducing costs at the tabloid. (Earlier this year, publisher Pat Purcell said he was looking for $7 million in paper-wide cuts and roughly 50 editorial staffers have departed via buyouts and a few layoffs.)

Herald sources say the company will freeze contributions to the pension plans of its exempt (non-union and management) employees. It is also switching health care plans from Blue Cross to Harvard Pilgrim, a move that will generate additional health insurance costs for employees. Also coming fairly soon is a new monitoring system that will track when employees enter and leave the building and send that data to the company's payroll department.

Purcell has told his own paper that the company -- presumably both the Herald and its sister CNC community publications -- may be for sale. These moves will do little to dampen speculation that the company is trimming its overhead in anticipation of a possible deal, possibly soon.
| More

 Friends' Activity   Popular 
All Blogs
Follow the Phoenix
  • newsletter
  • twitter
  • facebook
  • youtube
  • rss
Latest Comments
Search Blogs
Media Log Archives