/// New Media Pink Slips Cost Less Than Old Media Pink Slips

August 16, 2013  |  All Things Digital


Image copyright R. Gino Santa Maria One of the many differences between old media companies and new media companies: It’s a lot cheaper to fire people at new media companies. AOL said it will spend between $14 million and $18 million on “cash restructuring charges” — read as “severance and related costs” — on the Patch layoffs it announced today , which will range from approximately 350 to 500 people. As Bloomberg’s Ed Lee notes , that indicates AOL is not spending a whole lot on severance for Patch employees, who have been running a network of 900 local news sites. Or at least, it’s not spending a lot compared to the world’s largest publishing company. When  Time Inc. announced it was going to lay off some 500 people earlier this year , parent company Time Warner told investors that it was going to spend a lot more money on its payroll-reduction move: “Approximately $60 million.”

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New Media Pink Slips Cost Less Than Old Media Pink Slips


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