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France's Top Newspaper Faces Crisis

Le Monde says 20% of its journalists must leave by next week

By Jason Farago,  Newser Staff

Posted Jun 23, 2008 12:40 PM CDT

(Newser) – In the past year, the French newspaper Le Monde has endured the worst crisis in its history, losing its editor-in-chief and failing to appear on newsstands for days during a series of strikes. Now its 340 staffers have been given an ultimatum, writes the Guardian: Unless about 20% accept voluntary resignations by next week, the independent paper will be taken over by corporate owners.

The financial straits of Le Monde are so dire that the paper could be bankrupt in as little as 4 years. Outsiders say that to survive, the prestigious title must abandon the unique scheme in which the staff controls its holding company. "In France," said one Spanish journalist, "people haven't accepted that running a newspaper is a business, you have to make money."

French daily Le Monde employees gather front of the building during a rare strike at the paper over plans to eliminate 130 jobs, in Paris,  Monday, April 14, 2008.
French daily Le Monde employees gather front of the building during a rare strike at the paper over plans to eliminate 130 jobs, in Paris, Monday, April 14, 2008.   (AP Photo/Francois Mori)
Le Monde, France's most prestigious newspaper, is enduring the worst crisis of its 64-year history.
Le Monde, France's most prestigious newspaper, is enduring the worst crisis of its 64-year history.   ((c) luc legay)
The offices of Le Monde, in southern Paris. Le Monde, France's most prestigious newspaper, is enduring the worst crisis of its 64-year history.
The offices of Le Monde, in southern Paris. Le Monde, France's most prestigious newspaper, is enduring the worst crisis of its 64-year history.   ((c) luc legay)
Le Monde, France's most prestigious newspaper, is enduring the worst crisis of its 64-year history.
Le Monde, France's most prestigious newspaper, is enduring the worst crisis of its 64-year history.   ((c) zugaldia)
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