The unions apparently intend to play some hardball in Chicago. They should ask the UAW and the steelworkers how that’s been going for them over the long term:
(Crain’s) — Sun-Times Media Group Inc., facing mounting losses at its newspapers as ad revenue plummets, asked union-represented employees Wednesday to take a 7% cut in compensation to help keep the company afloat.
The company, which operates the Chicago Sun-Times and dozens of suburban papers, told union representatives that it needs the concessions to meet its goal of trimming $50 million from expenses this year, according to a memo sent to Newspaper Guild members. About 41% of the company’s 2,300 employees are covered by unions.
“It is important to note that none of the unions committed to anything at this meeting,” union representatives wrote to their members in a memo posted on Jim Romenesko’s Poynter Institute blog. “The union reps in attendance rightfully wanted to meet with their members to get their feedback about management’s request.”
But the unions aren’t the only ones clinging by their fingernails:
Separately, the company’s board of directors sent a letter Wednesday urging investors to reject a bid by a leading shareholder to replace all but one of the board’s members.
Plunging revenue, stagnant readership, trouble controlling costs, lack of innovation … what’s the case for keeping the board?






Comments