Wednesday, January 13, 2010

SacBee cuts 25 jobs; McClatchy stock rising

McClatchy's stock is making a rebound, but the company's biggest newspaper, the Sacramento Bee, announced Monday that it will eliminate 25 jobs due to a "prolonged period of revenue declines." The number of newsroom jobs to be cut wasn't released.

It's the fourth round of layoffs at the 248,000-circulation daily in the last 18 months. Management hopes to get enough volunteers to take voluntary buyouts to avoid layoffs. The cuts will take place Jan. 29.

Executives with McClatchy said the decline in advertising revenue is easing, but hasn't ended. "The economic downturn has lasted much longer than anticipated" Bee Publisher and President Cheryl Dell said in a memo to employees.


Anonymous said...

Gary Pruitt, can you spare a few cents for one of us on the street!!!

Anonymous said...

Hope you guys print Pruitt's compensation package