Posts tagged Alden Global Capital
Journalists turn to picket lines as the news business ails
February 16, 2024 // At the L.A. Times, where Schleuss got his start as a labor activist, owner Soon-Shiong made deep cuts last June and again last month, saying he is losing tens of millions of dollars a year on the paper. He says the union's refusal to give him greater leeway in making job cuts in January forced him to lay off more journalists. He had offered buyouts in exchange for relaxing protections by seniority. The union instead went out on strike.
Daily News journalists walk off the job for the first time since 1991
January 26, 2024 // The Daily News' union said staff walked out because they are fed up with Alden Global Capital's constant cuts and apparent commitment to shrinking the paper. Alden Global Capital is an investment firm that in 2021 purchased Tribune Publishing, the company that previously owned the newspaper and many others. The union says management is trying to cut overtime across the board, but explained because staff is small, metro reporters often work overtime to provide the best possible coverage.