Tribune prints pink slips

Tribune Co., one of the top media companies in the United States, has announced plans to cut jobs, due to falling circulation, advertising and revenue and increasing newsprint costs. The Chicago-based company, with business interests in publishing & broadcasting, reported an October 2005 revenue of $439 million, down from $455 million in October 2004 (a 3.5% fall). The job cuts (to be carried out at five Tribune owned newspapers) include eighty five of 1,032 newsroom jobs at The Los Angeles Times (a Tribune newspaper), which is about 8% of its total editorial work force. The Times another Tribune newspaper, has also reported a fall. Read More on the IIPM B&E Article...

Source: IIPM - Business & Economy