Star Tribune announces job cuts
The Star Tribune announcing job cuts as the newspaper further trims costs.The newspaper is cutting around 100 jobs.In a note to the newsroom, Editor Nancy Barnes says about 30 of the cuts will come from newsroom and editorial staff - about a10 percent reduction.The Star Tribune emerged from bankruptcy protection September 28 with its main lenders becoming the new owners.Plummeting ad revenue prompted the newspaper to file for chapter 11 last January.Mankato Businessman Glen Taylor and a business partner have put in a bid to become minority owners of the newspaper.The offer is valued at $6.25 million to $8.75 million.
In a sign the private market isn't necessarily a shelter for troubled newspaper publishers, Tribune Co. said Wednesday it plans job cuts as the company's revenue falls short of its expectations.