McClatchy to cut 15 percent of staff

09 Mar 2009

Faced with dismal fourth quarter earnings, McClatchy says it will cut 15 percent of its full time staff or 1,600 people.

The headcount reductions will be achieved through severance programs, attrition and further consolidations and outsourcing of some business functions, the company said, and will result in approximately $30 million in severance costs. All cuts will be in the first q



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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.