Thursday, February 5, 2009

Star-Telegram expected to cut more jobs

The Fort Worth Star-Telegram is preparing to cut more jobs, its parent company said Thursday.

The McClatchy Co., the publishing company behind the Fort Worth Star-Telegram, also said it is freezing pension plans and 401(k) matches as the company continues to grapple with a decline in advertising revenue.

In an internal e-mail sent to Star-Telegram employees, the newspaper's executives stated that the paper is experiencing an “unprecedented loss in advertising revenue” with customers going out of business or closing locations. The paper added, “In response to these losses we are developing plans to reduce expenses. Unfortunately, these cuts will include position eliminations.”

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