"We have been transitioning steadily from a traditional newspaper company to a hybrid print and online, news and advertising company for some time," said McClatchy CEO Gary Pruitt. "The effects of the current national economic downturn make it essential that we move even faster to realign our workforce and make our operations more efficient."McClatchy also plans to introduce wage reductions as a way to implement further savings. Any journalism students out there, take it from me. Apply to law school. Now! You'll thank me for it.