Effective Jan. 1, NJMG will no longer reimburse retirees monthly to help them pay for Medicare supplement insurance and will no longer contribute toward the cost of dependent's medical insurance. All medical plans will move to United Healthcare "in order to help contain costs." Mac gives no estimate of anticipated total savings.
"I can assure you that this decision is not indicative of the great appreciation that I have for your many years of service," Mac wrote. "Despite our difficulties, North Jersey Media Group is still able to go forward, largely because of the work of its talented and dedicated staff -- both present and past."
Mac doesn't say NJMG is losing money. In fact, The Record has never lost money and if it had, we were never told it did. That hasn't stopped layoffs, restructuring and salary freezes, but the number of employees affected has never been been made public.
Mac cited dramatic declines industrywide in advertising revenue ("our life-blood") that have forced NJMG "to drastically reduce expenses in order to remain a viable company."