KNIGHT RIDDER TO CUT JOBS ACROSS ITS 32 PAPERS

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(April 30, 2001) -- Citing an advertising "recession" and increased newsprint costs, Knight Ridder's Chairman-CEO Tony Ridder said the San Jose, Calif.-based company would cut jobs in "most newspapers," largely through buyouts and early retirements, across its 32-daily portfolio depending on local conditions. The extent of the cuts were unspecified. Knight Ridder's ad revenues dropped 6% in March and are expected to drop more sharply in April.

Copyright April 2001, Crain Communications Inc.

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