The Boston Herald’s hedge fund owner cuts three jobs
The Boston Herald composing room. Photo from sometime between 1859 and 1885.
It has been a while since we’ve heard about cutbacks at Alden Global Capital’s Massachusetts properties. But Boston Globe media reporter Aidan Ryan writes that the hedge fund is once again on the move, as the Boston Herald has cut three employees from its small staff.
Those reportedly losing their jobs: a full-time sports reporter, a part-time photographer and, on the business side, a part-time account executive. Boston Newspaper Guild president Scott Steeves tells Ryan, “It’s unfortunate because it seems like both the online version and the print version have done well as of late.”
No current headcount, but Ryan observes that the Herald’s newsroom was down to 24 in 2020. Just a few years earlier, the Herald employed 240 people, but it’s not clear whether that’s an apples-to-apples comparison. The Herald also lacks a newsroom.
I’d be curious to know whether Alden’s other Massachusetts properties, The Sun of Lowell and the Sentinel & Enterprise of Fitchburg, have been affected — and if Alden papers across the country are being cut yet again. If you have a tip, just use the “Contact” form.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”