The company McClatchy Co., Owns the newspaper the Miami Herald and several other publications, has announced the reduction of 1,6 thousand of its employees, reports AFP. The reasons for the reduction mentioned fall revenues from advertising and the precarious financial situation.
Chapter McClatchy Co. Gary Pruitt also announced a reduction of his salary by 15 per cent and 10 per cent from other members of the company's management. In this year, eliminated all bonuses for managers.
McClatchy Co. is the third largest company in the U.S., specializing in the publication of newspapers. Apart from the Miami Herald she owned about 30 daily newspapers, including the Sacramento Bee, Fort Worth Star-Telegram and the Kansas City Star, as well as some 50 newspapers published less frequently.
After the declaration of stock reductions, McClatchy Co. fell by 24 per cent.
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