Up To 40 ProJo Employees On The Chopping Block

The Providence Business News reports that, according to an asset purchase agreement filing with the U.S. Securities and Exchange Commission, the new owners of the Providence Journal will be looking to cut up to 40 employees from the payroll.

In other words, the buyer, GateHouse affiliate and New Media Investment Group subsidiary LMG Rhode Island Holdings Inc., will choose which employees will and will not receive offers of employment from the new owner after the purchase closes in the third quarter of this year. Those who are rehired will be offered terms of employment not necessarily in keeping with the collective bargaining agreements A.H. Belo had negotiated with the Providence Newspaper Guild and Journal employees.

This is terrible news — first for those employees, but then for everybody else too. You will not be reading updates on this story in the Providence Journal. Thank you PBN.

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