Associated Press to cut 10 percent of workforce in 2009
2008-11-20 22:28:40 (GMT) (Caymanmama.com - Business News)
Associated Press who is expected to eliminate 10 percent of its employees in 2009
Philadelphia, Pennsylvania (CaymanMama.com) — As the nation’s employment situation worsens, Americans are being laid off in all industries.
The latest news of job cuts comes from the Associated Press who is expected to eliminate 10 percent of its employees in 2009, a source at the news service said.
The Associated Press has one of the world’s biggest and most reputable news agencies with a staff of about 3,000 journalists, and a total of about 4,100 employees worldwide. The job cuts will account for about 400 employees.
AP Chief Executive Tom Curley conveyed the bad news during a “town hall” meeting with employees.
“All areas and ways of doing business are being reviewed,” said an AP statement provided to Reuters. “The AP, which recently instituted a strategic hiring freeze, may need to reduce staff over the next year. If so, it hopes to achieve much of the reduction through attrition.”
The reductions follow AP’s restructure efforts in its U.S. operations in a strategy to present what it said would be “deeper, more relevant coverage for its member newspapers.”
The 162-year old company began as a newsgathering cooperative for American papers. Earlier this year, AP revised its rate plan for member papers to benefit from lower fees paid out for advertising.
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