Cuts at Crains

The Chicago Tribune reports that Crain’s Chicago Business eliminated several positions and informed remaining staffers that they could face a 10-percent pay-cut.
In addition, the story points out that this month Crain’s also announced it would close Automotive News Europe, Business Insurance Europe, RCR Wireless News and the financialweek.com Web site.
From the story:

A spokeswoman for parent Crain Communications would not corroborate the specific cost-cutting moves. The private business publishing company, however, did confirm cutbacks — including an unspecified number of job eliminations — had been made at many of its titles to offset effects of the global economic downturn.