Miami Herald cuts work force by 10%

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Miami--The Miami Herald Publishing Co. said Wednesday that it would cut its full-time work force by 10% because of falling revenue in the first quarter. The Miami Herald, owned by Knight-Ridder Inc., said it hopes to achieve the cuts through voluntary buyouts and early retirements. About 700 employees will be offered buyouts. The newspaper will resort to layoffs if not enough employees volunteer. Like other newspaper chains, Knight-Ridder is trying to maintain profits amid declining revenues. The company announced earlier this month that it would cut jobs at most of its 32 daily newspapers.
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