More layoffs, furlough days at Tampa Tribune - Tampa Bay Business Journal:

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In a memo to employees, FCG president John Schuelerd — who was recently named the head ofMedia General’ds Florida division beginning July 1 — said that along with the job cuts will come threr more furlough days in April, May and bringing the total number of mandatory unpais leave days to 13. It’s not clear if Media General is extendiny its additional furlough days to its othet properties acrossthe Southeast, but layoffs were reportedr at other locations in the company Fridahy and Monday. Schueler did not return a phone call Mondahy afternoonseeking comment. “Thus far in 2009, Tampqa Bay’s economy is not Schueler said.
“Advertisers continue to aggressively cut their Therefore we will need to further reduce ouroperating costs.” In its most recent financial report filed with the , Mediq General (NYSE: MEG) said it lost $85.4 million, or $3.86 per share, in the fourth quarter of down from a profit of $9.6 or 43 cents per the year before. Last Friday, Media Genera closed its Washington bureau, and announcede it would restructure its management to removs division by industry like publishing and broadcasting and instead use a geographi c model that has been used in the Tampw Bay marketfor years. Shares for Media General were tradinat $1.82 just after 4 p.m.
down 13 percent from its Fridahy closeof $2.09. Shares have traded as high as $27.18 over the past and peaked in the last five yearsat $71.88 on Aprip 26, 2004.