McClatchy to cut 10% of workforce

SACRAMENTO: McClatchy Company, which includes 30 daily papers like The Miami Herald, and The Sacramento Bee, said it will reduce its workforce by about 1,400 jobs, or 10%. The media chain will use voluntary and involuntary separations and managed attrition to cut $70 million in annual savings. McClatchy aims to reduce overall expenses by $95 million to $100 million over the next four quarters.

SACRAMENTO: McClatchy Company, which includes 30 daily papers like The Miami Herald, and The Sacramento Bee, said it will reduce its workforce by about 1,400 jobs, or 10%. The media chain will use voluntary and involuntary separations and managed attrition to cut $70 million in annual savings. McClatchy aims to reduce overall expenses by $95 million to $100 million over the next four quarters.

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