Lee Enterprises is set to lay off staff across both its local papers and at the corporate level in a bid to cut costs following its unsolicited takeover bid by hedge fund Alden Global Capital.
As per a source, more than 400 roles are expected to be cut this year across at least 19 Lee-owned local papers and corporate functions.
“As Lee Enterprises continues to transition from a print-centric to a digital-first business, we need to make job reductions to better align staffing with our long-term strategy,” a spokesman said in an email to Axios.
“These reductions are specifically tied to our legacy print business and in areas where we can become more efficient through business transformation,” they added.
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