More Cuts for Bee After McClatchy Revenues Drop

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(Sacramento, CA)
Tuesday, September 16, 2008

The Sacramento-based McClatchy Company announced its second 10 percent job cut in the last three months after a previous round in June.  It says half of the cuts will come from either buyouts or leaving vacant positions unfilled.  The rest will come from layoffs.
Over at the Bee, that means a newsroom already decimated by job cuts will take an even bigger hit.  Just last week, for example, the paper announced it was buying out 87 employees – many of them from the newsroom.
McClatchy CEO Gary Pruitt called the cuts “painful” but “necessary,” citing an 18 percent revenue drop last month compared to a year ago.  It’s especially bad in California, where advertising revenue dropped 23 percent from last year.