An article about media job cuts completely misses the upside.
CHICAGO, Jan. 25 (UPI) -- U.S. media job cuts surged 88 percent in 2006 from the previous year, a downsizing trend expected to continue this year, a survey said Thursday.
The media industry slashed 17,809 jobs last year, a nearly two-fold increase from the 9,453 cuts in 2005, outplacement consultancy Challenger Gray & Christmas said. ...
"These organizations will continue to make adjustments as their focus shifts from print to electronic," Chief Executive John Challenger said. "Until they can figure out a way to make as much money from their online services as they are losing from the print side, it is going to be an uphill battle."
Thanks to the internet and globalization, media companies are now able to do a lot more work with a lot fewer people. This pushes revenue down, and eventually the unneeded jobs are eliminated. These cuts are actually good for our economy. It's doubtful that online media services will ever generate as much revenue as old media services did -- but they won't need as much gross revenue because their expenses will be much less. These job reductions are the manifestation of increased efficiency within the media industry.