McClatchy Stock Hits New Low, Market Cap Only $36 Million

Shares of Sacramento publisher close at 42¢ Shares of Sacramento-based McClatchy Co. (MNI) hit new lows yesterday as the price slumped...


Shares of Sacramento publisher close at 42¢

Shares of Sacramento-based McClatchy Co. (MNI) hit new lows yesterday as the price slumped to 42¢ per share in NYSE trading. MNI is the publisher of the Sacramento Bee.

In addition MNI's South Carolina publication, The Sun News of Myrtle Beach, announced yesterday that it will lay-off 20 workers and reduce hours of other staff. The work week for hourly employees will be reduced to 37 1/2 hours and salaried personnel will see their wages cut by an undisclosed amount.

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Anonymous said...

Dan, Tom here, having worked for McClatchy I can say -- with all confidence -- that it's about time they bit the bullet. They cheated every one of their stringers to feed the staff. Screw the staff NOW.

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