By: E&P Staff The Daily Press of Newport News, Va. announced that it will buy out 25 veteran employees with at least 10 years experience. The move is part of an effort to cut $1 million worth of annual expenses. Some of these savings will be invested in new areas as the newspaper tries to diversify its core business.
The Daily Press cited slumping circulation and competition from the Internet for the cuts. It will now redirect resources to the Web, where readership is growing.
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