The Associated Press (AP) isn’t the only media organization suffering from the current economic downturn, however, the global news service announced on Thursday that it plans to cut 10% of its total workforce in 2009 — which could amount to more than 400 jobs.
It seems no industry or organization is immune to the effects of the economic crisis. But questions do remain as to how much worse things can get.
The Associated Press (AP) plans to cut up to 10% of its workforce in 2009, or around 400 people.
Reuters quotes sources at AP who were present when AP Chief Executive Tom Curley delivered the news as part of a “town hall” meeting with employees. The cuts are said to be made to assist AP to cope “with tough financial times and ailing member newspapers.”
AP said in a statement that “All areas and ways of doing business are being reviewed. The AP, which recently instituted a strategic hiring freeze, may need to reduce staff over the next year. If so, it hopes to achieve much of the reduction through attrition.”
AP has made headlines this year as members have resigned or have considered doing so, including the Tribune Company.