CDT Parent Company, McClatchy, Maligned

The Centre Daily Times announced on Thursday that it would be eliminating three positions and reducing all salaries over $25,000 by 2.5 percent to 5 percent.

The CDT reported on its own troubles:

Other cost reductions are planned, including reducing the width of the newspages by one inch, and reducing the number of comic strips in the daily newspaper.

McClatchy, the CDT’s parent company, is feeling the effects of Depression 2.0 in full force. In March, McClatchy announced that it would be eliminating a total of 1,500 jobs from its 30 newspaper properties.

[HT: Veblen]

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