Delivering on promises it made last month, McClatchy Co. said it plans to cut 1600 jobs, or 15% of its workforce, and lower salaries across the board. The cuts will be made through attrition, consolidation, outsourcing and layoffs. Chief executive Gary Pruitt is taking a 15% pay cut and all executives are forgoing 2009 bonuses.
McClatchy had announced plans to cut up to $110 million in expenses last month, but didn’t provide details. The company already cut 10% of its workforce late last year. The 15% figure is a goal and the job of deciding where to cut will be left up to individual newspapers within the company’s portfolio.
If you’re likely to be caught up in the McClatchy layoffs – or anybody else’s, for that matter – now’s a good time to head over to Recovering Journalist Mark Potts’ website for his 10 Tips For Suddenly Unemployed Journalists.
This entry was posted on Monday, March 9th, 2009 at 2:40 pm and is filed under Business News, Layoffs, NewMedia. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.