Tuesday, February 19, 2013

Journal Register gives all workers layoff notices

The notices came under the federal WARN act, which requires companies to give 60 days' public notice when 100 or more employees may be sacked at a single worksite, according to a report this afternoon in The Saratogian of Saratoga Springs, N.Y. The notices went to all employees, including members of the senior management team.

In September, Journal Register sought bankruptcy court protection for the second time. A sole bidder -- a subsidiary of Alden Global Capital -- has offered $122 million for the company. On Thursday in New York, a federal court is to consider whether to accept that bid.

Journal Register is run by a management firm that also operates MediaNews Group, Gannett's partner in Detroit plus California, Texas and Pennsylvania. Alden also owns a large stake in MediaNews Group.

The layoff notices may have been a formality to cover all eventualities. It's unclear whether Alden, if successful, will reduce staffing.

GCI owned the Saratoga paper until 1998, when it sold the daily via the Gannett Foundation to Journal Register.

Journal Register is based in Yardley, Pa., just outside of Trenton, N.J.

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