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RALEIGH, N.C. - The News & Observer of Raleigh said Monday it is offering voluntary buyout packages to some of its employees as it works to bring the newspaper's costs in line with its revenue.
The newspaper reported it will offer buyouts to 230 of the company's 900 employees. Employees who accept the offer will leave the company May 23.
Publisher Orage Quarles III said the newspaper expects a small percentage of employees to accept a buyout offer. He said the offers follow declining revenue, increasing costs for gas and newsprint, and other factors.
"It's almost a perfect storm of factors," he said. "We've got to get the organization to a size that supports the revenue."
Quarles said the company was seeking to eliminate positions that could be made more efficient with technology or consolidation of jobs.
The News & Observer is published by California-based McClatchy Co. Employee buyouts have been offered at other McClatchy papers, including The Modesto Bee, The Sacramento Bee and the Miami Herald.
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