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TAMPA -- The Tampa Tribune will eliminate the positions of 165 of its employees, representing a 16% reduction to its work force, the Tampa-based publication says.
In an article at TBO.com, the Tribune says it will “focus more on reaching news readers with more innovative digital and mobile methods,” reducing the operations of its print product.
Roughly 80% of those employees being let go were notified on Monday, the Tribune says. All other eliminations will take place in the first quarter of next year, after which point the Tampa Tribune will have roughly 675 employees remaining on staff.
The Tampa Tribune is owned by Media General Inc. (symbol: MEG), a Richmond, Va.-based company with $678 million in 2010 revenues. The parent company's stock was up more than 3% Monday afternoon, and at one point reached a high of $4.60.
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