Journalism Job Cuts Haven’t Been This Bad Since the Recession

[jmyrlefuller]

https://www.bloomberg.com/news/articles/2019-07-01/journalism-layoffs-are-at-the-highest-level-since-last-recession

by Gerry Smith
July 1, 2019

The news business is on pace for its worst job losses in a decade as about 3,000 people have been laid off or been offered buyouts in the first five months of this year.

The cuts have been widespread. Newspapers owned by Gannett and McClatchy, digital media companies like BuzzFeed and Vice Media, and the cable news channel CNN have all shed employees.

The level of attrition is the highest since 2009, when the industry saw 7,914 job cuts in the first five months of that year in the wake of the financial crisis, according to data compiled by Challenger, Gray & Christmas Inc., an outplacement and executive coaching firm.

(excerpt)

[jmyrlefuller]

Other notable tidbits:

- There are a few reasons for the job losses. Local newspapers have seen much of their advertising revenue vanish as readers move online. They’ve also struggled to attract many digital subscribers after past rounds of layoffs and buyouts eroded their quality.

- The journalism job hunt can be particularly challenging between the coasts. (...) many positions required that she live in New York, Washington or Los Angeles. “All of media has become concentrated in three cities,” said (Emma) Roller, who now works part-time at an elementary school and as a barista at a coffee shop while freelancing. (...) The Los Angeles Times has added about 100 employees to its editorial staff since billionaire Patrick Soon-Shiong bought the newspaper last June. The Washington Post announced recently it is adding 10 people to its investigative team.

And we wonder why we have media bias in this country...