After years of operating in the red, the San Francisco Chronicle announced it will offer buyouts to at least 125 employees before the end of the year.
Frank Vega, the paper’s publisher, president and CEO said the company is “hopeful that by opting for our employees to voluntarily sign up for buyouts we can avoid any type of layoffs going forward.”
The company expressed its willingness to consider more than 125 buyout applications, but they will determine which applicants will be accepted and rejected. If not enough people apply, layoffs will be likely.