Cut backs in plan for Tribune Co.

Tribune Company plans to reduce costs by printing fewer papers and hiring fewer journalists, an article in The New York Times reported.
The news comes the same day the Labor Department reported unemployment rates increased 5.5 percent last month, the largest one-month increase in 22 years.
Randy Michaels, the Tribune's chief operating officer, said the cut backs could mean the elimination of 500 pages of news a week across all the company's 12 papers but would save 25 percent to 30 percent of the newspaper's operating costs.
The announcements were reveleaved by Michaels and Samuel Zell, chairman and chief executive of Tribune, during a conference call with Wall Street analysts.

Read more here.