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Sun-Times Asks Unions To Take Pay Cut

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Jan 8, 2009 10:26 am US/Central

Sun-Times Asks Unions To Take Pay Cut

Company Hopes To Be Profitable Again In A Year Or Two

CHICAGO (CBS) ― The Sun-Times Media Group is asking its unions to take a 7 percent pay cut to keep the company from going under.

But unions are taking a wait-and-see attitude toward the proposal, and have not agreed to any final plan.

The company, which publishes the Chicago Sun-Times and some 70 suburban and community papers, is trying to cut $50 million in expenses from the bottom line.

Company officials hope the plan will mean a return to profitability in a year or two.

Woes for the Sun-Times mirror those in the industry, and include a drop in advertising revenues as the financial meltdown that began last year forces advertisers to reduce their own expenses.

The Associated Press contributed to this report.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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