An email inadvertently sent to the Wall Street Journal editorial staff on Friday afternoon implied that layoffs are coming next week at sister publication Barron’s.
Shortly after lunch, Journal editor Gerard Baker sent an email to the editorial staff offering buyout packages.
Then, Barron’s president and editor Ed Finn accidentally replied all to the email later in the afternoon and said this:
Almar, John, Mike,
The email Gerry Baker just sent about wsj buyouts says that dj is offering 1.5x the standard buyout package.
Are we planning to go to the employees we are laying off at Barron’s next week and offer them 1x the standard package. That could create some problems. Please advise.
Thanks and best,
Ed
A Dow Jones representative did not reply to an email Friday afternoon seeking comment.
Tim Martell, the executive director of the union representing Dow Jones editorial staff, said it was aware of Finn’s email and had asked the company for information.
In an email to Talking Biz News, Martell wrote:
We’ve seen it. We have asked Dow Jones management for information about forthcoming Barron’s layoffs, but have not received anything yet.
(In fairness, we only sent the request for information at 3:25 PM. DJ has only acknowledged that they are also aware of the Finn note.)
In light of this, and the earlier buyout offer only to WSJ news personnel, we hope this is not an indication the Company intends to create two different classes of employees as they carry out their plans to reduce headcount.
