As many as 844 Michigan employees of the Journal Register Co. could lose their jobs if the media company successfully sells most of its assets.
In a filing with the state, Journal Register, whose newspapers include the Macomb Daily, Oakland Press, Mount Pleasant Morning Star and downriver News Herald, said it plans to lay off 844 workers in mid-April after it sells most of its assets to 21st CMH Acquisition Co.
Layoffs could include 295 in operations, 156 in advertising, 131 in editorial, 125 in circulation, 92 in administration and three executives.
The Journal Register is operated by Digital First Media, which also oversees MediaNews Group, owner of The Detroit News.
"The notices sent to all Journal Register Co. employees - from part-time staffers to managers to the executive team - are the next step in the company's ongoing sale process," Jonathan Cooper, vice president of media relations and employee communications for Digital First Media. said in an email to The Detroit News.
"Journal Register Co.'s leadership team cannot speak on behalf of the new owner but has continually expressed to the purchaser that a competent and competitive workforce is critical to the company's success moving forward."
21st CMH Acquisition, an affiliate of New York hedge fund Alden Global Capital, could rehire some Journal Register employees upon completion of the sale, according to a letter to employees acquired by The Plain Dealer of Cleveland.
The U.S. Bankruptcy Court for the Southern District of New York is expected to review terms of the sale this week.
The Journal Register, which has newspapers in 10 states, has filed for bankruptcy protection twice in three years.
khenkel@detroitnews.com
(313) 222-2504
Source: http://www.detroitnews.com/article/20130221/BIZ/302210433/1001/rss21
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