Thu, Jul 20, 2006 - Page 3 News List

Taiwan Quick Take: KMT to cut paper's staff


The Chinese Nationalist Party (KMT) has announced that it plans to reduce staff numbers at the Chinese Daily News, a newspaper owned by the party. The move comes after the KMT recently sold various media outlets, including the Central Daily News newspaper. The Central Investment Holding Company, the largest investment company controlled by the KMT, announced that it had reached an agreement with its employees and would lay off about 280 employees in September. The newspaper's union was initially dissatisfied with the retrenchment deal offered to employees and claimed it was worse than the one offered to Central Daily News staff. The union said that employees who had worked at the newspaper for less than 25 years would receive a measly pension. The union later agreed to accept the proposal.

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