Last week, after laying off several marketing, advertising and non-newsroom employees, The Boston Globe sent a memo out to staff alerting them to impending buyouts.
The memo, acquired by Media Nation through a newsroom source, was written by president Vinay Mehra and editor Brian McGrory and announced a new round of budget cuts, including newsroom positions.
The memo didn’t state how many positions were up for elimination, nor did it dispel the threat of layoffs, should the buyouts prove ineffective. The buyouts are primarily for those working in the newsroom, advertising and marketing departments.
“We will use any savings to address the current economic realities and invest in our core strength — great journalism, with an eye toward our digital offerings,” the memo stated.
“We are optimistic that the buyout, the first in two years, will result in the savings we need to create a sustainable Globe. If we do not get enough takers, we’ll have to consider all other options, including layoffs.”
Previously, McGrory had stated the paper was on track to reach 100,000 digital subscriptions by the end of June, and that the paper could become nearly sustainable if those subscription numbers doubled in the coming years.
The paper also announced its zoned editions, including Globe North, Globe South and Globe West, will become a Sunday section called Globe Local. This marks the end of the local-news centric editions.
“Our editors do great work putting out high-quality sections week after week, but revenue-wise, they are on the verge of going under water. We are planning to create one edition that will run across all zones, called Globe Local, and zone the advertising, so that businesses still have a lower cost, more targeted option,” the memo stated.
Separately, Conde Nast has reportedly laid off eight Vogue staffers, in the most drastic move to take place at the publication in the past two years. According to New York’s The Cut, the layoffs came as part of an “internal reorganization.”
Several employees were also laid off at Allure and GQ in May.