News Virginian latest to furlough employees
The tough times being faced in the news-media industry are now hitting home to Waynesboro.
The News Virginian announced in today’s edition that it will be implementing a series of unpaid furloughs for employees in line with a fulough program being implemented by its corporate parent, the Richmond-based Media General.
Employees will take a mandatory 10 days off without pay from March through September beginning with a required four days off in March and then three days each in the following two fiscal quarters.
The News Virginian will manage this process by closing its offices four Mondays in March, three Mondays in May and three Mondays in July.
The paper will be produced and delivered through those office closings.
“The current economic outlook requires us to be even more cautious than we already have been regarding our revenue expectations,” said Marshall N. Morton, president and chief executive officer of Media General. “Despite aggressive sales initiatives and significant cost reductions already implemented, we need to build in additional expense savings to offset the revenue shortfalls we anticipate.
“With this furlough, along with other cost reduction measures already implemented, we are being prudent and proactive as we address the impact of unprecedented economic turmoil in our country and our industry,” Morton said.
– Story by Chris Graham