Tribune Co. announced a restructuring of its publishing business Wednesday to focus on its digital efforts and streamline operations, resulting in nearly 700 job losses across the Chicago Tribune, Los Angeles Times and six other daily newspapers.
The plan, which was outlined for Tribune Co. employees in a memo, seeks to integrate business units such as advertising, marketing, manufacturing and digital media under common leadership. It is aimed at offsetting annual publishing revenue declines of $75 million to $100 million, without diminishing editorial content, according to executives.
But publishing staff positions, accounting for about 6 percent of Tribune Co.’s workforce, will be eliminated beginning Wednesday, and the impact of those cuts remains to be seen.
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