Journalists Appeal to Billionaire Owner Amid Fear of Job Losses
The billionaire who took over a well-known newspaper back in 2013 is being implored by its journalists to prevent job cuts. The newspaper, which had been facing financial difficulties when he bought it, had thrived for several years under his ownership. However, the financial situation has turned sour again, with the newspaper reportedly losing millions each year.
The journalists' fears are evident in the numerous letters they've written addressing their concerns about potential layoffs. They fear the breadth of their international coverage will be severely reduced due to the impending cuts.
Newsroom in Danger of Shrinking
Currently, the newspaper employs nearly 800 journalists. However, the union representing these workers has received warnings of potential layoffs, which could reduce the newsroom size by anywhere from 100 to 300 employees. This figure could increase when factoring in employees who work outside the newsroom.
A Lack of Transparency and Trust
The fact that these letters are being directed to the billionaire owner instead of the newspaper's Chief Executive and Publisher speaks volumes about the lack of faith in the latter. The journalists' trust in the leadership has been damaged by their silence regarding the future of the newspaper.
Journalists Warned and Encouraged to Seek Other Opportunities
Editors are still encouraging reporters to meet their deadlines and break news, as they have done throughout the newspaper's long history. However, some editors have begun advising journalists not to accept dangerous assignments abroad due to the possibility of being laid off while in perilous situations. Some have even suggested that their journalists should consider any job offers they receive from outside sources.
Journalists Demand a Committed Steward
The union representing the newspaper's employees has publicly stated its strong opposition to any further cuts. They argue that these cutbacks would weaken the newspaper and drive away readers, undermining its mission to hold power to account and provide critical insight into communities. If the billionaire owner no longer supports this mission, the union believes that the newspaper and its readers deserve a steward who does.
Subscriptions Rise Despite Financial Losses
The billionaire owner appointed a new CEO to lead the newspaper in 2023. Despite the newspaper selling a record number of subscriptions in five years, it continues to lose tens of millions annually, and the new measures introduced to stem this financial bleeding have yet to prove effective.
The Future of the Newspaper
The billionaire owner has remained silent about the future of the newspaper, leading journalists to question his commitment. Despite this, he has never interfered in newsroom decisions, maintaining the independence of the newspaper's journalism.
Meanwhile, the owner has been fostering a positive relationship with the current president. This has raised eyebrows among some journalists, who question whether this is impacting the newspaper's editorial stance. The owner has previously stated that he believes the newspaper's duty is to its readers, not its owners, a sentiment that many are hoping he will uphold as the newspaper faces its current challenges.