Is TWT Preparing for Shut Down?
Following The Washington Times‘ announcement of intent to lay off at least 40 percent of its staff of nearly 400, sources tell FishbowlDC that something is still awry with the management’s intent for the future of the paper:
“We have developed plans to secure our position and advance our vital role in an evolving media marketplace and through challenging economic times,” said President-Publisher Jonathan Slevin.
After issuing letters to staff per the federal WARN Act (which offers protection to workers, their families and communities by requiring employers to provide notice 60 days in advance of covered plant closings and mass layoffs), TWT management has made no effort to retain prized employees — or any staff at all.
In the midst of mass layoffs or other corporate upheavals, it’s common practice to offer retention bonuses, ensuring key employees don’t jump ship during the upheaval.
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