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Equity
The axe falls at The Seattle Times
Up to 150 jobs will be eliminated through voluntary or involuntary layoff.
Up to 150 jobs will be eliminated through voluntary or involuntary layoff.
When world prices for metals and paper were riding high, Seattle had a little gold mine shipping out its recyclables. Then the prices sank by as much as 75 percent. Gold mine became a black hole.
A Hearst startup, called Skiff, seemed to have the technology to make seattlepi.com a stronger competitor with its old newspaper rival across town. But the Skiff has set sail, sold to Rupert Murdoch's outfit, and things look even more questionable for the local web site.
The Seattle Times says the paper is here to stay, with Blethen family control assured for years to come. But there are those who think financial challenges will continue for a considerable time.