Journal Sentinel Inc. will reduce its workforce by 92 employees, or 6.2% of its total workforce, according to a company announcement.
These reductions include 37 voluntary buy-out offers that were accepted in the Journal Sentinel newsroom, as well as the company’s printing services and direct marketing businesses
Most of the employees affected by the voluntary and involuntary separations are expected to leave the company in August.
“The advertising recession continues to affect our business,” said Steven J. Smith, Journal Communications’ chairman and CEO, in a statement. Journal Sentinel Inc. is a Journal Communications, Inc. company.
Journal Communications anticipates gross workforce reduction charges of between $4 and $5.5 million during the second half of the year. These actions and other cost reduction initiatives are anticipated to generate annualized savings of approximately $21 million across Journal Communications companies.
