Journal Register Co. seeks bonuses for executives who reduced staff sizes

The Journal Register Company, which filed for Chapter 11 bankruptcy protection earlier this month, ran into some opposition recently when it asked the bankruptcy court to approve bonuses to be paid to executives who reduced staff sizes in a timely manner by firing or laying off employees.
According to Editor & Publisher's Fitz & Jen blog, 31 executives were to receive a total of roughly $450,000 on Dec. 31.

Journal Register also wants to give bonuses to these favored 31 if they expeditiously shut down "several" daily newspapers and "many" non-dailies in the next few weeks.
E&P's Web site reports the attoney general of Connecticut, home of the New Haven Register, intends to intervene in the bankruptcy case to oppose the "shutdown bonuses."

According to the Journal Register Co.'s Management Incentive Plan, the two future bonuses would be paid out if objectives are met by February 28 and some time during the first quarter 2009, respectively.

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