LONDON (Brand Republic) - Knight Ridder, the publisher of the Miami Herald and the San Jose Mercury News, is to slash its workforce across its 32 US newspapers following a drop in advertising revenues.
Advertising revenue had fallen 2.7% year on year in February and 6% in March. The company said April鈥檚 figure was substantially lower. The market is also suffering from a 20% rise in newsprint costs.
Knight Ridder joins rivals New York Times Co and Dow Jones & Co, which have also made cuts because of the downturn in the US economy. The company said the cuts would vary according to local market conditions.
Knight Ridder鈥檚 cutbacks made the news last month when Jay Harris, publisher of the San Jose Mercury News, resigned in protest against the cuts which he believed would do lasting damage to his newspaper.
Knight Ridder slashes staff across 32 titles
Knight Ridder, the publisher of the Miami Herald and the San Jose Mercury News, is to slash its workforce across its 32 US newspapers following a drop in advertising revenues.