Journal Register lays off all staff in Mich., in hopes new owner rehires

02/21/2013 | (Michigan) (free registration)

Journal Register Co. is laying off all its 844 employees at dailies and weeklies across Michigan, as it plans to sell most of its assets and operations to 21st CMH Acquisition Co., which is an affiliate of Alden Global Capital's managed funds. "We have asked the buyer to operate the business using substantially all of our current employees. We have expressed to the buyer that a competent and competitive employee population is critical to the company's ongoing success ... the buyer will decide which employees of Journal Register Company it will hire after the purchase," wrote Journal Register Co.'s Robert Monteleone.

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