Media General lays off 75 in wake of newspaper sale
RICHMOND, Va. (WTVR) – Richmond-based Media General announced it was laying off 75 employees.
Media General CEO Marshall Morton wrote in a staff memo Tuesday, “Today is a difficult day here in Richmond. A workforce reduction is occurring across our corporate staff departments and in the digital media section of the Growth and Performance group.”
Morton called the layoffs necessary in order to make Media General a “smaller, more focused company.” Earlier this year Media General sold most of its newspapers, including the Richmond Times-Dispatch, to Warren Buffett’s Berkshire Hathaway, Inc.
In his memo, Morton wrote the sale of the newspapers reduced Media General’s staff from 4,000 employees to 1,400 employees. He said that overall reduction meant less resources were needed at the Richmond headquarters.
Morton said laid-off employees would receive severance and help finding a new job.
To see the complete document, click here: Media General Memo