Tribune Co. is cutting 700 newspapers employees, or about 8 percent of its publishing workforce, as the Chicago-based media company restructures to centralize certain functions for the papers.
Tribune, which owns eight major dailies including the Chicago Tribune and Los Angeles Times, will streamline advertising, marketing, manufacturing, distribution, human resources and digital strategy for its newspapers instead of having all of those functions for various publications spread across the country. Its making the move as it prepares to spin off the publishing division and focus on expanding its broadcast operations.
"Creating these critical efficiencies and ensuring the long-term strength of our mastheads will, unfortunately, result in the selective reduction of our publishing staff," Tribune CEO Peter Liguori said in a memo today.
Tribune had 8,487 full-time employees in its publishing division and 2,598 employees in its broadcast division, as of June 30, the company has said in financial documents.
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