The future of the cash-strapped Independence Evening Post (自立晚報) -- the oldest evening newspaper in Taiwan -- hangs in the balance, as the paper posted a notice that its operations will be terminated in June due to financial difficulties.
However, dismissing rumors that the 54-year-old evening paper would shortly become history, the newspaper's president, Wang Shih-chien (
"At least in the near term, the paper will be kept running, but the will [to survive] will not be fulfilled without financial aid from banks and the staff's sincerity to work together to go through this time of crisis. Please give the Post another chance," Wang said.
Seeking to counter reports that the publication will not be distributed today for a lack of paper to print it on, Wang, a DPP city councilor and chairman of the Jihchengchin Construction firm (日成鑫建設), said that he had just purchased more paper "of an amount sufficient to last for a few days."
But Wang, under tremendous financial pressure, conceded that the announcement posted in the office was indeed drafted by him because he had planned for the worst, and he "did not want to abandon the employees without warning."
The newspaper is reportedly incurring a monthly loss of around NT$15 million.
On Thursday, a statement announcing the impending closure of the paper was posted on bulletin boards in the newspaper's office and in its printing facility.
"Due to a lack of financial backing, we have to acknowledge that we are completely out of financial resources and are compelled to make a painful decision: the newspaper will be closed in June," the statement said.
The declaration did not specify which date in June, because according to the union, the president has not yet made a final decision.
Responding to the uncertain future of the paper, representatives of the union yesterday released a statement in which they expressed their willingness to work together with the newspaper to tough out the difficult times. But the statement also expressed their determination to fight for their benefits, saying they "would not sit idly waiting for their doom," if rational measures to negotiate with their employers failed to result in any positive feedback.
Yesterday's news came as no surprise to the staff, given that the newspaper's operations -- which were far from smooth for a number of years due to several changes in management -- have not been addressed since Wang took over in October.
Labor-capital relations have been strained mostly due to delayed paychecks and the management's unilateral decision to axe employee salaries. Paychecks for 240 of its staff for the months of April and May were cut by 15 percent. In March and June, the company paid salaries in two installments. On June 6, the workers received just half of their wages and are still waiting for the other half.
Paychecks that staff received for the months of April and May were cut by 15 percent. In addition, the company decided that the paychecks for the working months of February and May were to be paid in two installments. Workers received their first payment for May on June 6 and must wait for the other half to be delivered on June 19.
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