View From a Height

The AP (and the Denver Post) Do Layoffs

Well, those of who work at Janus (although not for Janus) knew it was coming. In the wake of disappointing quarterlies, the company cut 40 jobs yesterday, mostly in administration and operations. While the Rocky found plenty of space to describe what happened at one of Denver's major employers, the Post could only manage a couple of hundred words from the AP.

Tucked into the report was this somewhat snarky paragraph:

[COO] Miller is the only executive among those whose jobs are being cut, according to Peterson. The others are being drawn mostly from the ranks of the company's back office in Denver and include employees in administrative and operations roles.

Ah, the bigwigs protecting their own while the little guy gets the shaft.

Except that the Rocky reports that:

In another change, Janus said that Beery had volunteered to waive the renewal of her employment contract, which would have given her a payment of three times her base salary and bonus, plus accelerated vesting of restricted stock and options, if she lost her job or had her duties changed.

I also happen to know from personal discussions that at least two directors lost their jobs, as well.

It's miserable to get fired, especially when you've just been doing your job. But the Rocky found the space to give a full picture, while the Post left the impression that the 7th floor was taking it all out on the little guy.