Repeat After Me…

The weeklies are toast, but the monthlies are safe…
The weeklies are toast, but the monthlies are safe…
_____

From Newsweek.com:

Washington Post Co. Chairman Donald E. Graham came to New York to tell the magazine staff at a 10:30 a.m. ET meeting on Wednesday. “We have reported losses in the tens of millions for the last two years,” he said. “Outstanding work by NEWSWEEK’s people has significantly narrowed the losses in the last year and particularly in the last few months. But we do not see a path to continuing profitability under our management.”

… NEWSWEEK Inc. Managing Director Ann McDaniel told the staff: “Because we don’t have a secret buyer waiting in the wings, because no deal is imminent, some things are unknown.  I do hope that you get to stay together as the great team that you are. In case that doesn’t happen though, let me make one thing perfectly clear: Any employee, business or editorial,  in good standing at the time of the sale, who does not get an offer from the new owner, will get the severance, notice, dismissal and RIF pay described in the contract and in NEWSWEEK’s severance policy on the intranet. If you are new to NEWSWEEK, and remain in good standing through the sale, you will get four months of pay.”

The weeklies are toast, but the monthlies are safe…
The weeklies are toast, but the monthlies are safe…
_____

NO NEW POSTS will be published here after February 6, 2014. THIS IS WHY.