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McClatchy (MNIQQ), owner of 30 US newspapers, announced on Thursday it will furlough 4.4% of its employees, lay off four executives and reduce some executive compensation to address the financial pressures from coronavirus.
The company, whose newspapers include the Pulitzer Prize-winning Miami Herald, The Kansas City Star and The Sacramento Bee, employs about 2,700 people, so the plan translates to more than 115 temporary job losses. The reductions will mostly affect McClatchy’s advertising department, while the editorial department will be spared, McClatchy Vice President of News Kristin Roberts told CNN Business in an interview on Thursday.
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