Chicago Tribune plans job cuts
CHICAGO — The publisher of the financially struggling Chicago Tribune Media Group says the company plans to cut jobs, freeze wages and increase prices for home subscribers to help offset a decline in revenue.
A memo sent Friday to employees from Tony Hunter didn’t give specifics on the number or kinds of jobs that would be affected.
According to excerpts in the Tribune and Crain’s Chicago Business, Hunter calls the moves a response to a "very challenging, uncertain environment" and says "it doesn’t look like there’s any relief in sight."
A Tribune Co. spokesman declined comment.
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The Chicago Tribune Media Group includes the Chicago Tribune, ChicagoTribune.com, RedEye, Hoy and Chicago Magazine. Its parent company, Chicago-based Tribune Co., filed for Chapter 11 bankruptcy protection in December amid multibillion-dollar debt and falling ad revenue.
