With 45 jobs already eliminated this month, the company that owns the Inquirer, Daily News and philly.com could slash another 35 positions within the next six months, a report said.
The Daily News reported that the next round of potential cuts were mentioned in a document outlining the terms of a potential sale of Philadelphia Media Network to an investor group led by local businessmen Lewis Katz and George Norcross. The letter puts the possible purchase price at $60 million.
Earlier this month, PMN laid off 19 editorial employees following buyouts by another 21 newsroom staffers. The Newspapers Guild called the cuts unnecessary and said it would discuss them with management with the possibility of filing a grievance. The layoffs are expected to take effect March 31.
The papers have also begun sharing content to make up for the staff reductions. The company is scheduled to relocate from its longtime headquarters at 400 N. Broad Street for space at the Strawbridge & Clothier Building at 8th and Market streets in July.