March 9, 2009

Newspaper publisher McClatchy cutting 1,600 jobs

Newspaper publisher McClatchy Co. said Monday that it will shrink its work force by an additional 15 percent as it contends with sharply declining revenue amid a deepening recession.

The 1,600 job reductions should help the publisher of The Miami Herald, The Sacramento Bee and other newspapers meet previously announced plans to save up to $110 million over the next year. McClatchy Treasurer Elaine Lintecum said the company will likely exceed that target, but the company did not release a new estimate.


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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