Chicago Tribune aims to cut 100 jobs: report

NEW YORK (Reuters) - The Chicago Tribune Co., a unit of Tribune Co., is aiming to cut 100 jobs and is expected to offer an employee buyout on Monday, according to the Chicago Tribune.

If the buyout offer does not generate enough savings, the company may resort to layoffs, the paper reported on Friday, citing unidentified sources.

The Los Angeles Times, another Tribune paper, was also expected to announced plans on Monday to cut about 5 percent of its workforce, or around 150 jobs, the Times reported on Saturday.

Tribune, which is going private in an $8.2 billion buyout, reported a quarterly loss last week as its daily newspapers suffered a continuing drop in advertising sales.

Tribune owns some of the most prominent U.S. newspapers, including the Sun in Baltimore, Maryland, and the Hartford Courant in Connecticut. It also owns television stations in several major markets.

A Tribune spokesman could not immediately be reached.