Nearly 1,000 news workers at Digital First Media have launched a nationwide revolt against job cuts and profiteering they say are threatening local journalism at the nation's second-largest newspaper company, The NewsGuild, TNG-CWA, announced today.
Alden Global Capital, the New York-based hedge fund that owns Digital First Media, employs a business strategy based on buying up newspapers, stripping them of their tangible assets, consolidating and outsourcing critical operations, and slashing staffing levels without regard to the harm its actions do to the newspapers, service, and the employees who make those newspapers profitable.
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