Tribune Publishing approves buyouts for 7% of employees

Tribune Publishing approved buyouts for approximately 7 percent of its eligible 7,000 employees across its media portfolio, according to a Thursday filing with the Securities and Exchange Commission.

The Chicago-based company owns 11 major newspapers, including the Chicago Tribune, Los Angeles Times and San Diego Union-Tribune.

Tribune Publishing would pay roughly $55 million in severance, benefits and taxes

Read more from the Chicago Tribune.