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Chicago Tribune, Los Angeles Times plan to cut up to 250 jobs

Chicago Tribune, Los Angeles Times plan to cut up to 250 jobs

The Chicago Tribune and the Los Angeles Times disclosed plans Monday to reduce their staffs by as many as a combined 250 jobs, the latest cutbacks in a U.S. newspaper industry reeling from a falloff in advertising and circulation.
The actions by Tribune Co.'s two largest dailies, which had been expected for months, come on top of earlier cutbacks by both papers.
The Times said it hoped to cut its staff of 2,625 by up to 150 employees, or around 6 percent. The Chicago Tribune said it intends to trim its staff by as many as 100, or 3 percent.
The company will make the cuts by a mix of closing vacant positions, attrition, buyouts and layoffs.
"The actions being undertaken at our newspapers reflect fundamental changes going on across the media industry," Tribune Co. spokesman Gary Weitman said. "We cannot stand still; as revenues have slowed, our newspapers are scaling expenses accordingly."
Tribune said it will redeploy its resources to areas that can best generate growth, as it is now doing with Internet-focused ventures.
The Times said up to 70 jobs could be cut from its news operations, which would reduce the newsroom staff to about 850 people. The Times news operation employed about 1,200 when it was bought by Tribune in 2000.
Times Publisher David Hiller, who took over last October when Jeffrey Johnson resigned after protesting Tribune's proposed cuts, said the newspaper must continue to change its business model in the face of industrywide challenges.
"It is also crucial we reduce resources, including some of our people, in areas of our core print business where revenue is declining," Hiller said in a statement.
Tribune, the second-largest U.S. newspaper publisher, last week reported a first-quarter loss of $15.6 million (euro11.5 million) because of continued declines in classified advertising.
The struggling company, which owns 11 daily newspapers, 23 TV stations and the Chicago Cubs baseball team, accepted an $8.2 billion (euro6.05 billion) buyout offer from real estate tycoon Sam Zell earlier this month to take it private later this year.
Tribune shares rose 24 cents to close at $32.49 on the New York Stock Exchange, up 5.6 percent in 2007.
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AP Business Writer Gary Gentile in Los Angeles contributed to this report.
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On the Net:
http://www.tribune.com


Updated : 2021-10-26 08:56 GMT+08:00