Sacramento, CA — According to the Associated Press newspaper publisher McClatchy Co. says it plans to eliminate 1,600 jobs, or 15 percent of its work force, as it contends with declining revenue and a deepening recession.
The company owns The Sacramento Bee, Modesto Bee, the Fresno Bee and other properties.
The cost-control efforts come as McClatchy is faced with plunging ad revenues plaguing the entire publishing sector, as well as trying to recover $5.3 million owed by newspapers it had sold.
This post was last modified on 03/09/2009 5:18 pm