Here's something you might be interested in.
Yesterday (Sept. 24), Peggy Chapman, regional human resources director for Lee Enterprises, which is selling the North County Times to the Union-Tribune, wrote to Times employees that the "UT intends to bring on all employees as of October 1 in their current positions and salaries." Then she noted, "I must add that a handful of managers will not be presented offers from the UT, but they have been notified and will remain to help with the transition." (Note: companies making an acquisition often do not make significant layoffs until they determine the magnitude of job duplication.)
Yesterday (Sept. 24), Peggy Chapman, regional human resources director for Lee Enterprises, which is selling the North County Times to the Union-Tribune, wrote to Times employees that the "UT intends to bring on all employees as of October 1 in their current positions and salaries." Then she noted, "I must add that a handful of managers will not be presented offers from the UT, but they have been notified and will remain to help with the transition." (Note: companies making an acquisition often do not make significant layoffs until they determine the magnitude of job duplication.)
As you point out, the layoffs tend to follow, not precede, the change of ownership and control. I suppose this is good news for the staff, but now they wait for the other shoe to drop. It will.
Your wisdom is always obvious, Visduh. I've been in financial writing for almost 50 years, including the conglomerate era. Before an acquisition or hostile takeover, the acquirer almost always says there will be no layoffs, or there might be force reduction, but only by attrition. It is seldom true. Best, Don Bauder
U-T San Diego Official Statement
As with all mergers, there are consolidation realities to consider. Should the deal close, U-T San Diego will be looking for efficiencies where there are redundancies as it evaluates the best way to merge both organizations.
Some NC Times people have already been axed. The U-T is saying here that there will be more. Best, Don Bauder