By Madison McVan
The Minnesota Star Tribune, the state’s largest media company, is offering employees buyouts as part of its widescale change under the leadership of publisher Steve Grove.
Employees received an email Monday morning from Grove announcing the buyouts, which are targeted towards experienced employees: in order to qualify for the buyout, an employee’s age plus their years of service must equal at least 65.
Although workers often fear that buyouts are a precursor to layoffs, Grove wrote in the email to employees that the company is seeking a refresh.
“Every media company in the country is going through tremendous transformation right now in the face of unprecedented challenges and new opportunities. We’re no different,” Grove wrote. “If we’re going to come out stronger, we need to own our future. That means bringing our workforce into a new era and making space to bring new talents and skills into the company to help us survive and thrive.”
In the email, and when reached for comment via a spokesperson, Grove didn’t say how many employees were offered the buyout.
Employees who take the buyout will receive a $10,000 payment plus other benefits based on their position and tenure, including continuation of medical benefits and severance pay.
Grove took over the Star Tribune in 2023; he had been commissioner of the Department of Employment and Economic Development under Gov. Tim Walz following a career in Silicon Valley. He has spearheaded an overhaul of the 157-year-old newspaper, with a focus on reaching more readers and improving the company’s digital presence.
The company has been on a hiring spree — 16% of the staff has been hired in the past year, spokesman Chris Iles said in a statement — beefing up its digital team and adding reporters across the state.
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