Gee, wasn’t it just last month that Mr. Lamont stated publically that revenue was up? The Signal newspaper laid off seven employees and temporarily cut pay for the rest Friday on the heels of declining revenue. “These cuts hurt. We are already a very lean operation,” said Signal Publisher Ian Lamont. “But the current economic times are requiring that we reduce operations and employees” reports The Signal.

Beginning Monday, salaried employees will take a 6-percent cut in pay and hourly employees will see a 4-percent cut.

“The company is committed to reinstating the temporary pay cuts to all employees, in addition to paying back each employee, as soon as our performance allows,” Lamont said.

The newspaper’s revenue declined in January; recognizing February was on track for the same, Lamont and his senior managers met over a period of 10 days to formulate a plan to cut operating expenses.

“These cuts were made with the intention that we could operate well at current revenue levels and would not need to make any additional cuts,” Lamont said.

Several departments came up with creative ways to cut costs, including voluntarily reducing their hours and eliminating allowances and commissions. These departments saved three jobs.

Read more here: The Signal forced to make cuts