SF Chronicle offers buyouts to 125

The San Francisco Chronicle will offer at least 125 employees the chance to take a buyout before the end of the year, the company said Friday.

"Obviously, we're not the first newspaper to be affected by the continuing downturn in advertising," said Publisher, President and CEO Frank Vega. "We are hopeful that by opting for our employees to voluntarily sign up for buyouts we can avoid any type of layoffs going forward."

The program is open to all employees who are not represented by a union as well as employees who are represented by the Northern California Media Workers' Guild.

The company said it would consider accepting more than 125 employees and that it has the right to reject as well as accept applicants. If the reduction goal is not met, the company said, layoffs will be likely.

This article appeared on page B - 3 of the San Francisco Chronicle