Layoffs begin at Daily Herald weeks after purchase by Chicago Tribune owners Alden – shawlocal.com

Layoffs begin at Daily Herald weeks after purchase by Chicago Tribune owners Alden  shawlocal.com

Layoffs began Monday at the suburban newspaper the Daily Herald, weeks after its sale to Alden Global Capital, owner of the Chicago Tribune. In the wake of its June 22 sale to Tribune Publishing, longtime staffers at the Arlington Heights-based Daily Herald received layoff notices on Monday, according to sources within the news organization. The third-largest newspaper in Illinois was sold earlier this summer to Alden Global Capital, an investment firm that also owns the Chicago Tribune, for $24 million. Alden/Tribune Publishing also owns several other titles in the suburbs, including the Elgin Courier-News, the Aurora Beacon-News and the Lake County News-Sun. Those who received notice of their terminations, effective immediately, include executive editor Lisa Miner and six other editorial department employees.

It was not immediately known if more layoffs were expected. According to previous reporting by Crain’s Chicago Business, Tribune Publishing had previously committed, in a memo to employees of Paddock Publications, the parent company of the Daily Herald, to retaining staff at their current salaries and benefits through the end of 2026. Those who were terminated were told it was a cost-cutting measure and were offered severance packages. Alden has a reputation for making deep cost-cutting moves to newsrooms following its newspaper purchases. After acquiring the Tribune, one of the company’s first acts was to offer buyouts, resulting