McClatchy Watch reported today that another round of layoffs could be coming at McClatchy, the parent company of The Kansas City Star, in June if the newspaper chain violates its debt covenants. But that's not all:
Look for asset sales. ExpectIf the Star goes through another round of layoffs, it'll be the fifth "belt-tightening" at the newspaper.McClatchy to sell buildings and lease them back. And as more employees
are laid off, the value of the product becomes degraded, causing more
subscribers to bail. McClatchy's situation might very well be
irreversible.
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They usually do. In the fourth round, they ran a story beforehand. Nothing after saying how many people were laid off.
Does the Star actually report its layoffs in its paper? You'd think that'd beef up the edition a bit. It could be its own section, called Layoffs.
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