Tribune Media Company To Lay Off 700 Employees
STEVE INSKEEP, HOST:
NPR's business news starts with cuts at the Tribune Company.
(SOUNDBITE OF MUSIC)
INSKEEP: This is the Tribune Media Co., which announced yesterday it's laying off 700 employees. The company owns seven daily newspapers including - of course - the Chicago Tribune as well as the LA Times. And it says the cuts will mostly affect the publishing side of the business, not editorial staff.
The company says this is part of an ongoing effort to consolidate its business. The Tribune Co., you may recall, has struggled with declining ad sales and emerged from bankruptcy late last year.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.