The paper's top-honcho, Chris Anderson, said in a memo to staff that a voluntary severance program "has essentially met its goal of reducing payroll costs for next year." That means no large-scale layoffs. Anderson, whose official title is president and CEO of Freedom Orange County Information, also said that "we continually look for opportunities to reduce expense where appropriate and required based on business conditions. That means I can't and won't promise no layoffs in the future."

Last month, the Register said if would offer voluntary buyouts to about a third of its 1,600-person staff, citing a shortfall of more than $20 million in advertising revenue. You might remember that three years ago, investment firms Blackstone Group and Providence Equity Partners Inc. acquired a 40 percent stake in Register parent Freedom Communications Inc. (a reminder to the LAT crowd that Tribune is not the only newspaper owner looking to maximize profits).

Update: Let's form a committee: In preparation for the news on buyouts, a Q&A memo was sent out to staffers that captures the paper's penchant for corporate speak. Whatever happened to editors who just grunt? Anyway, some snippets after the jump (note that Editor Ken Brusic is out of town as the big news is being announced).