CQ Roll Call Offers Buyouts

This just in…

As part of the transition from print to digital, CQ Roll Call has announced that it’s offering a “small handful” of employees in editorial voluntary buy-out packages. In order to achieve their goals, they have to make reductions to the print product, hence the buyout option. There are 180 employees in the department. The number of buyouts needed depends on who takes it — obviously a person earning more will cancel out having to eliminate other positions. The goal is to complete the process within two weeks, but there is no set deadline date.

UPDATE: The newsroom is clearly on edge and yet eerily pleased this is being spun as good for the company. The general sentiment: “No matter what anyone does, they can get cut at any turn.” (Paraphrasing): As is the case with many pubs, this one gets made with fewer and fewer people. The folks in London want to starve newsroom resources and keep more for themselves. Management doesn’t take responsibility for its own decisions. Many reporters are looking to business side employees who have left to secure them jobs elsewhere.

See the memo.

“CQ Roll Call announced today it will be offering a small handful of its employees an option to accept a voluntary buy-out package. Over the last year, CQ Roll Call employees have done an extraordinary job as the company continues its transition from print to a digital company. In the first quarter of this year, mobile usage has doubled from last year and visitors to RollCall.com are up more than 250%. As we continue to position CQ Roll Call towards competitive growth and adjust resources towards a digital future, we unfortunately must reduce staff dedicated to print functions. As a result, we are offering an opportunity for certain employees, all in editorial, to accept a buy-out package. Although this transition is difficult, these reductions will position the company to expand, grow into new digital markets, and enable us to achieve our goals.” — A CQ Roll Call Spokesperson.