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from the acquisition-followed-by-gutting-of-the-workforce dept.
It's as bad as many of us feared. In spite of the "happy talk" of "oh, his son will be running it and he's different", "Rupert wouldn't destroy an asset like Nat Geo", etc., the axe fell on [November 3].
The memo went out, and November 3rd 2015 came to the National Geographic office. This was the day in which Rupert Murdoch's 21st Century Fox took over National Geographic. The management of National Geographic sent out an email telling its staff—all of its staff—all to report to their headquarters, and wait by their phones. This pulled back every person who was in the field, every photographer, every reporter, even those on vacation had to show up on this fateful day.
As these phones rang, one by one National Geographic let go the award-winning staff, and the venerable institution was no more.
[...] The National Geographic Society of Washington will lay off about 180 of its 2,000-member workforce in a cost-cutting move that follows the sale of its famous magazine and other assets to a company controlled by Rupert Murdoch.
The reduction, the largest in the organization's 127-year history, appears to affect almost every department of the nonprofit organization, including the magazine, which the society has published since just after its founding in 1888. It also will affect people who work for the National Geographic Channel, the most profitable part of the organization. Several people in the channel's fact-checking department, for example, were terminated on Tuesday, employees said...
In addition to the layoffs and buyouts, National Geographic Society said it would freeze its pension plan for eligible employees, eliminate medical coverage for future retirees and change its contributions to an employee 401(k) plan so that all employees receive the same percentage contribution.
[...] Other articles hint that this may just be the beginning of the layoffs.
(Score: 2) by ngarrang on Friday November 06 2015, @07:35PM
No, they will not follow. The reason NatGeo was being bought is because they were bleeding money from every orifice. It was either be bought, or go out of business. Fewer and fewer people are buying their magazines. Their documentaries cost every more money to produce. For just one moment, stop thinking of NatGeo as a NatGeo, and call it Company X. Company X is about to go bankrupt, they get bought, as a measure to trim the expenses, some people are laid off and other bought out. It happens all the time in the business world. NatGeo, because of the buy-out, will still exist. Feel free to channel your inner hippy and decry the move, but would you prefer that it simply disappeared altogether?