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We're making money, but...
The ax fell again at the Daily Herald this week. I'm told there were 24 layoffs, and the salaries of the survivors, which have been cut before, will be trimmed by another 10 percent. In addition, everyone will have to take another unpaid day off each month -- for a total of two. Employees say the Daily Herald is crippled by the cost of servicing the debt from the $50 million Paddock Printing Center the paper opened in Schaumburg six years ago. Otherwise, it would be making money.
Until August 2007, there'd never been a layoff at the family-owned Daily Herald. Austerity has driven the paper ever since.