What does bankruptcy filing mean for Tribune employees?

Editor & Publisher talks to experts about what may be in store for Tribune Company employees. While CEO Samuel Zell assured employees "it's business as usual" in a memo Monday, experts are refraining from painting such a rosy picture. 

Former Merrill Lynch stock analyst Lauren Rich Fine agrees that "companies operate under Chapter 11 often." However, she stresses "its not usual for companies to come back out again."

The problem appears to be rooted in the current financial environment  where many newspaper companies find themselves "on the brink." According to San Francisco-based consultant Alan Mutter, "The outlook is not great for newspaper advertising... as bad as everybody thought it was going to be, it's actually worse." This puts the industry in a very difficult situation. 

While more layoffs may be on the horizon before the end of the year, Zell says employee 401(k) plans "are unaffected by the filing." Existing benefits in pension plans are also said to be safe. 

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