About 120 staffers want SF Chron buyout

About 120 staffers at the San Francisco Chronicle have submitted applications for voluntary buyouts, according to reports from the San Francisco Business Times.
The application deadline was yesterday, but employees still have until April 3 to reconsider. Last month, Hearst said it would closer the Chronicle if costs weren’t significantly reduced.
From the story:

Hearst said it needed to cut “at least” 150 jobs in order to avoid a shutdown or sale. The parent company said it’s lost $50 million or more annually in recent years, and is on track to lose more than that in 2009 without the staff cuts. Other informed sources say the losses have been even higher.