Grab your parachute while you can. The News & Observer today announced it would offer buyouts to 320 employees -- roughly 40 percent of its workers -- including every full timer in the newsroom. More cuts to the paper itself are also on the horizon.
Today's announcement confirms a report in the Indy last week that What's Up, the weekly entertainment tab, would cease publication, with its content folded into the Friday features section. The N&O's story also alludes to its parent company's sale of real estate holdings -- the Indy also recently reported that the company's Chapel Hill headquarters on Franklin Street is up for sale.
The only people celebrating this news are influence-peddling politicians and incompetent bureaucrats The N&O has been doggedly reporting on all year.