Tribune Co. announced it will reduce its work force by about 6% through job cuts and buyouts, as the result of the advertising slump that has sent revenues reeling at Tribune and other media
companies. The announcement, involving more than 1,500 jobs, came as the newspaper publisher and television broadcaster warned that its earnings will fall short of expectations in the current quarter.
A voluntary retirement program announced to employees Thursday is expected to reduce the company's work force by of slightly more than 26,000 employees by 3%, or more than 750 people. Another 3% will
be cut through job eliminations and reorganizations.
