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Just in: Major newspaper fires 129 staff, more to come

It’s El Pais, the ailing Spanish daily, once the pride of reborn democracy, now losing money at an alarming rate.

The 129 sacked workers were given their marching orders on Saturday. Another 20 have been ordered to take early retirement. The remaining staff will take a 15 percent pay cut. Among those fired are such well-known writers as Raon Lobo and Manuel Cuellar.

El Pais suffered losses of 31 million Euros in the first nine months of this year.

In Britain, journalists at the Guardian and Observer are to hold a strike ballot in response to demands for the loss of 100 editorial jobs. The Guardian Media Group posted a £75.6 million annual pre-tax loss in August.

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Comments

  1. Hope that will save some trees.

  2. And the Frankfurter Rundschau, Germany’s leading left-liberal daily, has just declared bankruptcy.

  3. It’s a fact of life, newspaper readership is down due to the many sources for news available on the web. Yes, it’s terrible that so many people have lost their jobs, but one has to wonder why the payroll at El Pais was so bloated at this point in time. I expect that this will be used as another reason for rioting in the streets of Madrid and maybe even for the trains to stop for a day….

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