Bankrupcies and redundancies continue

At the beginning of this week we reported on the continuing challenges facing the print media industry. One week into the new year a number of companies reported financial problems or redundancies. The second week has not turned out better for employees at a number of firms. Here’s a roundup of some of this week’s victims.

Morris Publishing Group, the parent company of three daily newspapers in Georgia, officially filed for bankruptcy protection on Tuesday. As of the petition date, the debtors’ newspapers had about 1,847 full-time employees and 335 part-time employees, according to a filing in bankruptcy court. via Morris Publishing files Chapter 11 – Atlanta Business Chronicle:.

Ann Caulkins, publisher of The Charlotte Observer, announced today that the company is cutting 25 additional jobs across all divisions of the newspaper. “Our revenue is still declining because of a difficult local economy,” Caulkins said. “The revenue decline is lessening, but the change is very gradual. While we see some signs of improvement in our business, the revenue trends are still negative.” via Charlotte Observer is cutting 25 additional jobs – CharlotteObserver.com