St. Pete Times reduces staff

The St. Petersburg Times will offer buyouts and impose a one-year salary freeze for remaining employees in an attempt to reduce the newspaper's payroll, according to reports on the site.
If enough employees do not accept the buyout offer, the paper's executives say some staff may be laid off later this year.
In a letter to staff, Times editor and chairman Paul Tash said the measures were a response to a “difficult economic climate” that has been especially hard on advertising, the largest source of newspaper revenue. Over the last two years, the Times’ full-time staff has dropped from more than 1,500 to fewer than 1,300, mostly by attrition.
“We are navigating a period of historic change and challenge,” Tash said. “Getting through this stretch will not be easy, and it will take everyone’s best efforts, but I remain fully confident about our prospects."
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