U.S. newspaper publisher McClatchy said on Monday it would cut 1,600 jobs, or about 15 percent of its workforce, in an attempt to deal with the faltering economy and a decline in advertising revenue.
McClatchy, whose papers include The Miami Herald, Sacramento Bee and Anchorage Daily News, has been under pressure to cut costs to meet heavy debt payments from its purchase of newspaper chain Knight Ridder Inc in 2006.
The job cuts will be achieved through severance programs, attrition and further consolidations and outsourcing of some business functions, the company said.
Monday, March 09, 2009
Antique Media Death March: McClatchy Cuts 1600 Jobs
It's going to be really difficult mustering up any sympathy for these folks, one of the most egregiously biased news organizations in existence.
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