• by Ray Schultz , Columnist, November 18, 2024

Congratulations if you work in the news business and are still employed.  

This year, through September 27, at least 2,500 jobs were eliminated in the U.K. and U.S. media, according to an estimate by the U.K.’s Press Gazette.  

Of course, that is an improvement over the 8,000 layoffs seen in the U.K., the U.S. and Canada in 2023.

We pity the person who had to compile this depressing list. But here a few of the recent episodes:  

• Dotdash Meredith — 53 people
• G/O Media — 2
• National World — 9

Looking back at October, there were 130 jobs lost at the BBC, taking into account new positions that are opening up.

On the other side of the world, Oahu Publications is cutting 13 employees at the Honolulu Star-Advertiser.

Several publications have let go of “handfuls” of people — a few here, a few there. It doesn’t sound so bad unless you’re one of them.  

As to the reasons for this, it is easy to fall back on the usual excuses, like the propensity of hedge funds to gut newsrooms. But advertising is also somewhat sluggish, and publishers are feeling beleaguered.

One sign of hope is that several firms have signed contracts with labor unions, allowing for at least some job protection. For instance, layoffs will be based on reverse seniority, which is the traditional way of handling these events.