The End of Commercial Real Estate? Tribune Publishing Announces Plans to Close Five Newsrooms' Offices

Unfortunately, Tribune isn't shutting these operations down.

Not yet, at least.

Instead, they're shutting down the newspapers' (allegedly) physical office space and directing the staff to continue "working" from home, which, for media people, means "reading twitter all fucking day."

Still: Look, if you're saving money by cancelling your physical office space, you gotta think, this is a half-way step on the way to simply shutting these operations down.

As Right-Wing Yoda said: "To code, you must learn."

This may also signal the move away from physical office space towards working from home, at least for white-collar workers who don't have a real need to be in the office.

Notably, the New York Daily News will be shutting down its physical offices, permitting some workers to Escape from New York>

Tribune Publishing Company, which owns some of the most storied newspapers in American journalism, said Wednesday that it is closing the newsrooms at five of them, including New York's Daily News and The Capital Gazette in Annapolis, Maryland.

The Capital Gazette was the newspaper that pushed the false narrative that a gunman who shot up their offices was inspired by Trump, when in fact he had been in a legal dispute with the paper since 2011.

So, good riddance there.

...

"As we progress through the pandemic and as needs change, we will reconsider our need for physical offices," a spokesperson for the Chicago-based company, Max Reinsdorf, said via email. "We will keep employees informed of decisions as they are made.'

...

Its offices at 4 New York Plaza in Manhattan will be formally closed as of Wednesday and staff will be given until Oct. 30 to retrieve personal items...

The article notes that Daily News owner Mort Zuckerman had already slashed the staff in half some time ago.

If these companies learn they can save $100,000 per month in rent for physical office space but lose less than $100,000 per month in productivity losses, the cities are in for a real Reaving, just an absolute bloodbath of Jobs Flight.

posted by Ace at 07:08 PM

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