NEW YORK: PR Newswire (PRN) has cut 25 positions as part of its parent company United Business Media's overall headcount reduction of 300 staff during the second half of 2008.
UBM announced those plans in its interim results November 18. It also noted that PRN's profits for 2008 will be lower than last year “due to the loss of market share” in its “US wire distribution business earlier in the year,” and continued investment in its infrastructure, sales and marketing, as ...