NEEDHAM, Mass. (AP) _ Community Newspaper Co. is eliminating about 150 positions as part of a company restructuring.
The company notified 73 employees that they had lost their jobs Tuesday. Another 47 vacant jobs were eliminated and about 30 more workers are expected to be laid off by June.
The cutbacks are part of necessary restructuring and not a sign of financial problems, said CNC president Kirk Davis.
The company, owned by Fidelity Investments parent FMR Corp., publishes the MetroWest Daily News in Framingham, 88 weekly newspapers, and 14 shoppers.
About 30 of the 73 laid-off employees were associated with the company’s Marshfield production plant, which is being consolidated into existing operations in Framingham and Auburn.
Davis denied rumors that the company is being prepared for sale.
``We’re clearly not positioning the company for sale. We’re positioning the company for a profitable future,″ he said. ``We’re prepared to revisit any decision we’ve made if necessary.″