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Knight-Ridder considers companywide cuts

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San Francisco--Knight-Ridder Inc., the nation's second largest newspaper publisher, is considering companywide staff cuts. Dow Jones & Company reports that Knight-Ridder, which publishes The San Jose Mercury News, The Miami Herald and The Philadelphia Enquirer, told some of its newspaper executives that their bonuses would significantly increase if staff reduction targets were met. Last month San Jose Mercury News publisher Jay Harris resigned, saying staff cuts would cause "significant and lasting harm" to the newspaper. Like many media companies, Knight-Ridder has been struggling with a downturn in advertising.
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