UPDATE: Dan Kennedy quotes a memo from Globe Editor Brian McGrory that the buyouts probably won't reduce headcount.
Boston Globe CEO Mike Sheehan sent out one of those rightsizing memos to his troops today - just as arts reporter Geoff Edgers leaves for the Washington Post and business reporter Erin Ailworth departs for the Wall Street Journal. Here's a copy:
Over the past two years, there have been a number of significant changes at the Boston Globe: a new owner, a new editor, and new leadership in a number of departments. Since January 2013, we've added a number of new people as well -- 250, to be precise. These key hires are helping us create a media property whose commitment to excellence in journalism is second to none in New England, and on par with the best in the business globally. They've allowed us to improve the quality of our offerings across the board and to introduce initiatives like Address and Capital in print, a re-imagined boston.com, plus Betaboston.com and Crux, the new Catholic digital site which will launch in a few weeks. On the business side, our efforts are paying off -- after the first six months of 2014, our circulation and advertising revenue are both ahead of plan, which reflects the enthusiasm of readers, visitors, and advertisers.
Our mission of creating award-winning journalism that's "aggressively interesting" is only realized if we create a business model that's sound and eminently sustainable. To reposition our business for the future, we have decided to offer some employees a buyout, voluntary in nature, the terms of which are generous by any standard. These employees will receive a letter at home over the next few days outlining specific terms.
We will continue to adapt and change, to stay ahead of the market and our competitors. We will continue to recruit and hire and explore new initiatives. But we will do so with financial discipline and rigor.
While the letters will be detailed and thorough, if you have any questions, feel free to ask me, your supervisor, or anyone in Human Resources.
All the best,