Post-Dispatch columnist’s advice to CEO: Don’t announce layoffs just after pocketing a bonus


Veteran St. Louis Post-Dispatch columnist Bill McClellan points out that “at the same time the workers are stressed, the big bosses are making more and more.”

In fact, it seems there is a certain correlation between layoffs and bonuses. The more people you lay off, the better your bottom line. At least, in the short term. You don’t grow a business by getting rid of your workers, but in the short term, it works nicely.

McClellan notes that “there is a kind of honesty in pairing the announcements” of executive bonuses and newsroom layoffs, but if he had a chance to talk to Lee Enterprises CEO Mary Junck, “I’d suggest a little more distance between the announcements.”

Junck received a $655,000 stock bonus last Wednesday — the reason: she wasn’t being paid enough, according to the executive compensation committee — then started laying off employees at the Lee-owned Post-Dispatch. By Saturday, nearly two dozen staffers were let go.

* Bill McClellan: Fat bonuses tip scales, dump skeleton staffs (Post-Dispatch)
* Sunday’s P-D editorial cartoon was missing without explanation (the cartoonist was laid off) (Gateway Journalism Review)
* Tribute to a P-D editor who was laid off after 37 years at the paper (Facebook)
* Follow Fake Mary Junck on Twitter (@maryjunckfake)

Earlier:
* Post-Dispatch lays off 23 just two days after CEO gets stock bonus (JimRomenesko.com)


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