McClatchy to Cut Newspaper Work Force
STEVE INSKEEP, host:
NPR's business news starts with layoffs at a big newspaper chain.
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INSKEEP: The chain is McClatchy, publisher of the Miami Herald and the Sacramento Bee and the Kansas City Star, among other papers. It's a big employer, about 14,000 people, but not for long. About 10 percent of those people - about 1,400 jobs - will be going away. McClachy's been struggling to bring in advertising dollars, and today, the CEO said the economic downturn is hitting revenues, and real estate and auto and employment companies spend fewer ad dollars. Internet news sources are also taking away some of McClatchy's business.
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