So is McClatchy about to drop the hammer?

It appears something is going to happen this week, I'm just not sure to what extent. Anybody else hear anything specific?

 

I know nothing, but I've found allusions to layoffs in Fort Worth and Miami.

http://www.pegasusnews.com/blogs/pegasusnewsblog/2008/jun/13/star-telegram-layoff/

 

Ugh. That is all.

 

Didn't realize it would be this quick, but have heard rumblings something (layoffs) would happen at some larger McClatchy metros before July.

 

Don't be surprised if layoffs happen in Charlotte and Raleigh, possibly within the week.

 

buyouts at the herald. no layoffs.

 

yet

 

I read this stuff continuously, and it's almost getting to the point where I ask myself, "Is it really worth it?"

 

McClatchy's in bad trouble. Many chains are going to have to start selling some properties.

 

Well, here's what I don't get - When they bought all those KR papers, they broke out the pom-poms saying how much better things would be and how fiscally smarter they are and how they've had umpteen straight quarters of growth. Of course, I've never trusted suits, but I can respect a man who at least can look me in the eye and say, "Brace yourself. This shit's going to get rough."

 

When McClatchy bought the K-R properties, the economy was in better shape. And there was no doubt that McClatchy was doing things better than most.

But it's likely that McClatchy can't survive this economic rollercoaster as is. That stinks, but here's to hoping this company shows a little more humanity than some of the others.

 

McClatchy took on a ton of debt to acquire the papers...combined with the economic downturn, that's been a double-whammy for the company.