Gone: 3,500 Newspaper Jobs In Two Months, $3.9B In Newspaper Stock In Two Weeks

Everyone knows that it’s a lousy time to be a newspaper employee who wants to remain a newspaper employee, but MediaPost has actually run the numbers: It tallies more than 3,500 job cuts at American newspapers since late May. A partial body count:

  • Media General: 810
  • Washington Post: 100
  • Gannett: “Hundreds” (At least 255)
  • Honolulu Advertiser: 54
  • Arizon Republic: “50 or more”
  • McClatchy: 1,400
  • Chicago Tribune 80
  • Los Angeles Times: 250
  • Baltimore Sun: 100
  • Hartford Courant: 57
  • Orlando Sentienl: 50
  • Dayton News-Journal: 99
  • Palm Beach Post: 300
  • Atlanta Journal-Constituion: 189
  • Wall Street Journal: 50 (but hiring 90+)
  • Boston Herald: 130-160

Alas, none of this is doing what it’s supposed to do: Convince Wall Street that papers can turn around their slide. Alan Mutter points out that newspaper companies have collectively lost $3.9 billion in value in July alone. And while we may be overly nostalgic for print products, we think these cuts are only going to accelerate papers’ decline: More layoffs = lousier product = less readers = less advertisers = less revenue = more layoffs. Repeat.

The good news? We’re hiring.


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