By: E&P Staff
The E.W. Scripps Co., which is set to report Q3 earnings today, is cutting some 400 jobs company-wide. This has now been confirmed. E&P reported it first yesterday afternoon.
The restructuring is expected to save about $15 million.
Word of the job cuts officially came Friday as Cincinnati-based E.W. Scripps Co. reported a third quarter loss from continuing operations of $21 million, or 39 cents per share. That compares to earnings of $16.6 million, or 31 cents per share, during the July-Sept. quarter a year ago.
Scripps’ statement didn’t say where jobs are eliminated but said employees were notified Thursday. The Knoxville paper, for example, is losing 50 spots. The company notes newspapers are dealing with “rapidly changing business conditions.”
Scripps operates daily and community newspapers in 15 U.S. markets. Its dailies include the Rocky Mountain News in Denver and The Commercial Appeal in Memphis, Tenn.
The Scripps-owned Evansville Courier Co., in Indiana said it was trimming roughly 32 positions. It publishes The Evansville Courier & Press among others.
A commenter at our Fitz & Jen blog reports 12 cuts at the Redding Searchlight in California. For some other papers go to Fitz & Jen details.