Chronicle Offers Golden Handshake: Less than a...
From Times Staff and Wire Reports
Chronicle Offers Golden Handshake: Less than a month after a similar action at the San Francisco Examiner, the San Francisco Chronicle began offering buyout packages to workers. In addition, the San Francisco Newspaper Agency, which publishes the newspapers, said it is raising the price of both to 35 cents from 25 cents as of April 15. Jessie J. Knight Jr., the agency’s vice president of marketing, said the moves were prompted by higher distribution costs and declining advertising revenue. The agency, which employs 3,500, last month cut 22 jobs and offered early retirement or buyout packages to some additional employees.