The company called a meeting with the Guild leadership today to give the required 30 day notice of another round of layoffs to take effect on Aug 18. Due to continued loss of advertising revenue both here and in Seattle, the company says it has to cut costs in order to avoid defaulting on loan covenants which come due in September.
The number of people who will be laid off is not yet known, but company representatives said it would be similar in size to the July 1st round of layoffs. Every department is expected to be effected, both guild and management. The last day of work for people laid off will by Aug. 18. The company said that there may be some limited voluntary severance options, but they would only be in certain as-of-yet unidentified job classifications and decisions will be made with the goal of paying as little severance as possible. The Guild is expecting to receive more information about the layoffs next week, and will pass it on to you.
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