About one-quarter of the newsroom employees at the Akron Beacon Journal will lose their jobs within the next two months. ``It's a very sad day for the Beacon Journal,'' new publisher Edward R. Moss said Tuesday in announcing layoffs, which he said are necessary to align costs with revenues. The moves are part of a companywide restructuring that will result in additional job reductions, Moss said. Moss, who was named publisher by new owner David Black on Aug. 7, said the newspaper's profits have fallen by about 50 percent during the last four years.
Canadian publisher Black Press Ltd. paid $165 million for the newspaper and its Web site after the breakup of parent Knight Ridder Inc. in June. Black told employees days before the transaction closed that jobs would have to be cut because of revenue losses. |