UPDATE, 10:52: Our down-market crosstown rival reports that the O has 1120 employees, 270 full time and 90 part time in the news room. It's quoting O "insiders" as saying 50 of the jobs will go in the newsroom.

UPDATE, 10:46: This is pretty awful. We're trying to figure out how many employees the Oregonian actually has. Either way, 100 is going to put an enormous dent in their operation. If you're an O reporter in the newsroom, give me a call on 503 502 2106. I want to hear what the mood is like down there. Honestly, I can't imagine.

UPDATE, 10:30: The Oregonian is offering a year's salary to those at the paper between five and 10 years as of October 6, and two years' salary to those there more than 10 years. Employees will receive healthcare for them and their dependents for 2 years or until they get another plan. Those offered buyouts are listed after the jump, but the deal seems to be on the table for almost everyone, from the newsroom through sales and production to the lowliest machinist in the print room. Meanwhile, here's the publisher's message:

Oregonian Publishing Company
Publisher's Message to Employees

August 22, 2008

I am sure, by now, everyone is aware of the serious financial situation facing the media industry. Newspapers today are operating in a competitive and economic environment, the likes of which have not been seen for over seventy years. Every major newspaper, including the New York Times, LA Times, Washington Post, Chicago Tribune, Seattle Times, USA Today and many others have been reducing operating expenses by offering buy-out and early retirement packages and/or laying off staff to offset the serious decline of revenues they are experiencing.

Although we have implemented a variety of plans to reduce expenses and create new sources of revenue, our financial picture continues to deteriorate. We simply have been unable to offset the unprecedented and continuing steep decline in advertising revenue. Each year since 2000, our advertising revenues have declined, year after year. While our revenue is down, our costs are up. Way up. Our steadily increasing operating expenses are driven mainly by escalating health care benefits, pension costs, newsprint price hikes and annual wage increases. And the future holds little promise those revenues will return. Therefore, we have an extremely serious situation here.

We must face up to this declining revenue and take extraordinary actions to bring our expenses and the size of our Company in line with our revenues, yet operate as efficiently as possible and stay competitive. These changes to the way we do business will involve realignment and centralization throughout the Company. Staffing must be reduced by a minimum of 100 regular, full-time employees.

Towards that end, editors and managers have finalized plans for department reorganizations, revisions in content and geographic distribution along with necessary staff reductions in all departments. Simultaneous with these reorganizations and structural changes, we are offering a voluntary and generous buy-out offer to full-time, regular employees of the Oregonian in selected job categories regardless of age with a minimum of five years of service at the Oregonian. The attached appendix "A" lists by department the job titles of employees who are eligible or not eligible for the buyout offer.

The voluntary buy-out program is being offered to employees working at divisions in the business, production and news departments where positions do not need to be replaced and where work can be reassigned more efficiently or where we can otherwise achieve cost savings. The offer will only be available until October 6, 2008 (45 days) and will not be repeated. Employees who accept the offer will have an opportunity to receive certain economic incentives, as explained in the attachment.

Those employees deciding to accept the offer will have to sign an agreement and general release, in the form attached, under which you release the Company from all claims, including all claims related to your employment or termination of employment and including any claims related to your age under the Age Discrimination Employment Act of 1967, as amended.

Additionally, the number of part-time employees in business and news departments will have to be reduced. Until October 6, 2008, a "severance package" for part-time employees will consist of 2 weeks pay per year of service to The Oregonian and one year of continued medical coverage for the employee. At the end of the offering period and when we know who has accepted the offer and who has not, we will review staffing and make appropriate decisions regarding assignments and transfers. This means it is possible employees will be asked to take on additional duties, transfer to another job or location, work in another department, or work different hours. But transfers are anticipated. Of course, those who are transferred to new assignments, perhaps in different departments, will be trained in their new duties. After the training, these employees will be expected to perform well in their new positions.

We are offering this voluntary buy-out to reduce the size of this company by at least 100 regular, full-time employees. Taking into account operational and business considerations, The Oregonian reserves the right to limit the number of eligible employees within specific job classifications allowed to accept the buyout. In the event more eligible employees than the limit within the specific job classifications elect to accept the offer, those employees with the longest credited service will be allowed to accept.

Your managers will meet with you individually over the next few weeks to discuss your individual situation.Those accepting the offer should review the Agreement carefully. You should consult with an attorney prior to signing the Agreement, and consider reviewing the tax consequences with your tax advisor. Those who accept the offer should notify their respective Department Manager/Editor then notify the Human Resource Department. The completed signed documents must be delivered to the Human Resource Department no later than 5 p.m., October 6, 2008.

You may take up to 45 days, or until October 6, 2008, in which to consider the agreement. You have the right to revoke this Agreement within a period of seven days following your signing the Agreement.

The Oregonian intends to schedule the final day of employment for those employees who accept the offer as soon as practical after the effective date of the employee's acceptance, but no later than November 7, 2008.

In evaluating your response to the buy-out offer, you may want to discuss the situation with members of your immediate family.

In closing, I repeat we have a serious financial situation here--by far the most serious in my 41 years as Publisher/General Manager. I strongly urge you to carefully consider the offer we are making. We need a significant number of you to accept. Please see your department manager, editor or HR with any questions.

Fred A. Stickel, Publisher

ORIGINAL POST, 9:43: Been offered a buy-out this morning? Care to tell us all about it? I've heard from multiple sources that there's "something big" going on down there today.

Full-time regular employees in job classifications unless specifically excluded here are eligible for this offer.

ACCOUNTING AND CREDIT
Credit Analyst
Accounting Clerk

CIRCULATION
ALL FULL TIME JOB CLASSIFICATIONS
EXCEPT THE FOLLOWING: Circulation Director
Manager of Circulations Sales
Manager of Circulation Operations
Territory Sales Supervisor
Telemarketing Manager
Telemarketing Supervisor

HUMAN RESOURCES
Employee Relations Manager
Human Resources Manager

IT
Computer Operations:
Manager
Assistant Manager
R Computer Operators
Data Control Clerk

Technical Support:
Electronic Maintenance Tech

Computer Services Admin:
Computer Services Secretary

Production Systems:
Production Systems Manager

NEWSROOM
Assigning Editor / Team Leader
Assistant Editor / Assistant Team Leader
Associate Editor
Copy Editor
Designer
Photographer / Photo Editor
Support Staff (Editorial Assistant, Clerk,
Lab Tech, Librarian)
Reporter / Columnist

PRODUCTION
Camera/Composing:
Printer
Camera Operator
Imaging Specialist

Machine Shop:
Machine Oiler
Journeyman Machinist

Press Room:
Press Operator

Plate Room:
Plate Maker

Mailroom & Kittridge:
No employees eligible

PURCHASING
Jr Clerk/Buyer
Sr Buyer
Shipping and Receiving Clerk

SALES AND MARKETING
ALL FULL TIME JOB CLASSIFICATIONS EXCEPT THE FOLLOWING:
Advertising: (Display, Classified and Lifestyle Media)
All Salespeople with less than 25 years of service
All sales managers
National Advertising Coordinator

Marketing:
Marketing Services Director
Strategic Marketing Manager
Community Support Coordinator

Ad Services (Ad Pad) & Operations:
Ad Services Manager
Ad Service Leads
Bureau Advertising Pre Press System Operators
Division Mac Operators
Advertising Systems Manager
Foodday Business Preprint Color Clerk

Advertorial: (Custom Content Team)
No employees eligible