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In case the newspaper industry needed another sign that it is facing troublesome times, the Akron Beacon Journal has announced that it will lay off 39 newsroom employees, and that a companywide restructuring will result in additional job losses.
The cuts are an attempt to align costs with revenue, according to new publisher Edward R. Moss. This is only the second time in the newspaper’s 167-year history that there have been newsroom layoffs, according to the Akron Beacon Journal.
As with numerous other newspapers, the Journal has lost revenue from advertisers who have cut back in newspaper advertising. The paper’s profits have fallen by about 50 percent during the last four or five years.
Black Press Ltd., a Canadian publishing company, bought the newspaper and its website, Ohio.com, for $165 million in June after the breakup of parent company Knight Ridder.
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