The company publishes the Daily Camera and the Broomfield Enterprise. Like newspapers nationwide that have recently pared staff, the Camera is affected by a softening advertising market and rising paper costs, Conant said. The company offered the buyout to workers age 50 and older. Employees who choose to take the buyout will receive one week's pay for each six months of service to the company, with a limit of 26 weeks of pay, said Tom Hooten, human resources director. The company also will pay the full cost of continuing benefits for three months.
Ad revenues are down at most of the newspapers.
Newspaper advertising revenues were down 4.9 percent, which was softer than expected. Three people chose to be bought out and a half-time worker was cut, he said. In addition, a vacant position was eliminated. The country's largest newspaper by circulation, USA Today, had its first layoffs in its history last week, cutting six newsroom jobs and seven others. Conant said the Camera hasn't specified a number of people who need to accept a buyout and did not say what will happen if too few employees accept.