The Chronicle reported this morning that it will offer at least 125 employees the chance to take a buyout before the end of the year, or another round of layoffs will take place. The story did not say how many of the employees would be from the newsroom.

The cuts come just two months after the Chronicle reduced its newsroom from 400 people to around 300. An in February, the Chronicle will not renew the contract of about 237 Teamster press operators as it turns over printing to a contractor, Transcon, which is building a plant in Fremont.

“Obviously, we’re not the first newspaper to be affected by the continuing downturn in advertising,” said Publisher, President and CEO Frank Vega. “We are hopeful that by opting for our employees to voluntarily sign up for buyouts we can avoid any type of layoffs going forward.”

The program is open to all employees who are not represented by a union as well as employees who are represented by the Northern California Media Workers’ Guild, the Chron said. The company said it would consider accepting more than 125 employees and that it has the right to reject as well as accept applicants. If the reduction goal is not met, the company said, layoffs will be likely.