RALEIGH, N.C. — The News & Observer Publishing Co. Monday afternoon announced it is cutting jobs, cutting pay and requiring unpaid furloughs for its staff as it contends with steep declines in advertising revenue.
The newspaper company, which also owns community publications such as The Cary News and The Herald in Smithfield, will eliminate 78 positions, or 11 percent of its work force. The equivalent of about 27 full-time positions in the N&O newsroom are included.
The N&O will require remaining workers to take a week off without pay between May 1 and Oct. 31.
The cuts were expected and have been telegraphed for weeks after The N&O's parent, The McClatchy Co. of Sacramento, Calif., said it had to pare its business. The newspaper chain is wrestling with a severe drop in revenue as it tries to pay down debt. Cuts have been announced at several McClatchy-owned newspapers, including the Miami Herald, the Fort Worth Star-Telegram and the Sacramento Bee.
Read the full story at newsobserver.com
