February 5, 2009

McClatchy to freeze pensions, suspend 401(k) match, cut jobs

Sacramento-based McClatchy, publisher of The Sacramento Bee and 29 other daily newspapers, on the heels of a $21.7 million loss for the fourth quarter, including frozen pension plans and the suspension of matching funds to its 401(k) retirements plans, the company

Sacramento Bee publisher and president Cheryl Dell said the paper will be making additional expense reductions, including eliminating some jobs.

Source: Sacramento Business Journal

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