Monday, March 16, 2009

Raleigh media co. says it will cut 78 positions

The News & Observer Publishing Co. said Monday it will reduce wages for many employees, impose unpaid furloughs and eliminate 11 percent of its work force, including 27 newsroom positions at its flagship newspaper in Raleigh.

In a story posted on the Web site of The News & Observer, the company said declining advertising revenue led to the decision.

The media company, a subsidiary of the McClatchy Co., owns community publications such as The Cary News and The Herald in Smithfield. The cuts had been expected after McClatchy announced last week a 15 percent job reduction throughout the company.

The layoffs at the News & Observer company amount to 78 positions. Remaining employees will have to take a week off without pay.

The News & Observer also reported salaries will be cut up to 10 percent for those making at least $25,000.


}}} full story {{{
.

No comments: