500 Seattle Times employees were told Friday they have to take a one-week unpaid furlough by the end of February to help the company raise as much as $1 million. The mandatory furlough comes in after three rounds of layoffs the last 12 months, including 150 job cuts this month.
Crosscut.com is reporting that the Times Co., which owes its lenders at least $91 million, is being pressured to sell its Blethen Maine newspaper chain and five acres of downtown real estate to pay down the debt.