McClatchy cuts expenses by at least $100 million

As a result of a tough fourth quarter, which included a revenue drop of 17.9 percent, the McClatchy Co. will trim payroll, curtail its retirement plan and cut operating expenses by at least $100 million, The Sacramento Bee Reports.
To cut costs, layoffs are likely and employees pensions will be frozen and contributions to 401 K plans will be suspended.
McClatchy Co. may also be off the New York Stock Exchange soon because it’s share have fallen below $1.
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