Monday, March 16, 2009

Hearst buys out 48; cuts costs

As part of a move to reduce costs by 20 percent, Hearst Corp. said Monday 48 employees will accept buyouts at its group of Connecticut newspapers.

Employees of the Connecticut Post, News-Times of Danbury, The Advocate of Stamford, Greenwich Time and the Brooks Community Newspapers covering several Fairfield County communities were told in a letter from Senior Vice President and Hearst Newspaper Group Publisher Mark E. Aldam the buyouts and additional reductions are necessitated by a significant deterioration in business conditions and the strain of a deepening recession.

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