In the face of a continuing decline in print revenue, the publisher of The Virginian-Pilot announced Monday that the company would offer voluntary buyouts to its most veteran employees and cut in-house advertising design and production.
The buyouts are for Pilot Media employees with at least 25 years of service. If not enough people volunteer, Publisher Pat Richardson said layoffs would follow.
Richardson said the cuts are expected to result in a reduction of less than 10 percent of Pilot Media’s workforce of 543 people. Pilot Media owns a number of print and online publications, including The Virginian-Pilot. Richardson said about 70 people qualify for a buyout.
