AJC downsizing update

This morning’s announcement that the AJC is offering a third round of buyouts came as something as a relief to many among the paper’s beleaguered editorial staff. There’s only so long you can show up for work not knowing if you’re going to be canned that day before you start feeling a little stressed.

Senior writers and editors who were already convinced there was a pink sheet with their name on it are, we’re told, generally pleased to find out they’ve got another chance to get out with a decent severance package. In fact, some employees have already handed in their completed buyout applications and are waiting to be told when is their last day on the job.

The deal on the table is the same as last time: two week’s pay for every year of employment. But the number of bodies to be cleared out is higher than past downsizings. The stated goal is to cut the editorial payroll – currently 323 positions – by about 90. But we’re told that’s an estimate based on the total salary dollars the honchos are looking to save. That figure hasn’t been released.