Newsweek Shrinks

By Ben Haber

March 31st, 2008

By Ben

Bad omens or too good of an opportunity to pass up?

Newsweek’s staff is decreasing by 111, as more employees then expected decided to accept a buyout from the national magazine.

Radar writes: 146 staffers were offered the chance to leave the magazine, with as much as two years of their current salary as a departing bonus, depending on their age and length of service. The package also includes pension sweetners and the chance to continue health insurance coverage until the age of 65. More staffers than expected accepted the offer, so at least some their jobs are likely to be filled by new hires. But dozens of positions will be eliminated permanently.

Entry Filed under: Mainstream Media,Other