Times Are Tough in St. Petersburg: Sagging Economy Prompts Staff Layoffs

Image via WikipediaOn the heels of a 5 percent salary reduction and a shake-up in severance payments, the Times Publishing Co.'s St. Petersburg Times has begun pink-slipping editorial staffers in response to a stagnant economy that has dried up ad lineage and reduced circulation.

The Romanesko Website reports that at least 8 staffers have been laid off, though the daily thus far has confirmed only 3 jobs lost. Times Executive Editor Neil Brown issued a memo to the newsroom explaining the economic need to trim staff.  The St. Petersburg Times is owned by the nonprofit Poynter Institute for Media Studies.