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Belt-tightening in US media hits thousands of employees
SAN FRANCISCO - US newspapers feel the global financial crisis in the form of a significant fall in advertising revenues. As balance sheets tremble under pressure, media groups increasingly resort to layoffs, wage freezes and pay cuts. The Tribune freezes wages, while E.W. Scripps Co. plans widespread pay cuts and suspension of some retirement benefits. McClatchy warns of more layoffs
Belt-tightening in USmedia hits thousands of emplo
SAN FRANCISCO - USnewspapers feel the global financial crisis in the form of a significant fall in advertising revenues. As balance sheets tremble under pressure, media groups increasingly resort to layoffs, wage freezes and pay cuts. The Tribune freezes wages, while E.W. Scripps Co. plans widespread pay cuts and suspension of some retirement benefits. McClatchy warns of more layoffs