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Tribune Co. Reorganizes Publishing Unit, Cutting Nearly 700 Jobs (Chicago Tribune)
Tribune Co. announced a restructuring of its publishing business Wednesday to focus on its digital efforts and streamline operations, resulting in nearly 700 job losses across the Chicago Tribune, Los Angeles Times and six other daily newspapers. TVSpy The layoffs, which did not affect the company’s television stations, come at the end of an eventful year for Tribune. The company emerged from bankruptcy in January with a plan to shift focus to its television stations, naming television executive Liguori CEO just weeks later. LA Times / Money & Co The reorganization is “not by any means a Hail Mary pass,” the company’s president and CEO, Robert Liguori, said, stressing that the newspapers are profitable. NYT The cuts, which represent about 6 percent of the company’s 11,000 employees, will affect mostly its business side. Politico / Dylan Byers on Media “Unfortunately, organizing around functional lines rather than maintain what we’re doing locally, there is going to be some staff reductions,” said Liguori. “We are not going to be reducing any of our frontline reporters. Over time there will be some small reductions on the editorial side, but we want to maintain our best-in-class local journalism.” Poynter / MediaWire In its most recent financial report, Tribune noted it had eliminated 360 positions in 2013 across the company, which also has a broadcasting division. The reductions came “primarily in publishing,” the company said. NY Post “The move anticipates a tough 2014,” said Ken Doctor, an analyst and founder of Newsonomics. “Tribune is battening down the hatches, looking at another, similar high single-digit decline in print ads. Massive cutting is the only way to preserve meager profit.”