Dang. How long could a patient who is bleeding so profusely last?
There’s more to the story than that. The internet has opened new venues to people to sell without having to use the local paper. Craig’s list is free for example and you can sell all sorts of stuff that way. Furthermore, if the real estate market is slowing down then that’s going to result in a drop in business as well.
Damn that Craig and his list!
Staff reductions, which will decrease the total number of employees to 6,150 by the beginning of the third quarter, are spread across publishing, broadcast and corporate operations. The company did, however, increase positions in its interactive media division as it focuses on the Internet.
Absolutely brutal. No way they are making those level of cuts without carving some of the meat off the bone with the the fat that's being lopped off.