Alan Mutter: 1,400 layoffs may not be enough

Alan Mutter has looked at the numbers, and he concludes McClatchy's 1,400 layoffs won't be enough to cover the drop in ad revenue for 2008.

Barring an upturn in the newspaper business in the second half of this year that no one foresees, MNI’s ad sales for 2008 are likely to be $295 million lower than they were in the prior 12 months. Thus, the $70 million the company hopes to save by eliminating 1,400 positions would offset only 23.7% of the anticipated revenue shortfall.

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