ST. PAUL — Union employees at the Pioneer Press have taken out an ad, saying the St. Paul newspaper needs a new owner.

The union paid for the ad in the rival Minneapolis Star Tribune on Monday. The union said the Pioneer Press refused to run the ad.

The newspaper is now in the hands of New York City-based Alden Global Capital. The union for Pioneer Press newsroom employees accuses the hedge fund of cutting staff and otherwise “dismantling” the newspaper to increase profits. Newsroom staffing is down about 60 percent from the 2001 peak.

Union officer Dave Orrick said the Pioneer Press needs an owner who “cares about the community and will be a responsible steward.”

The newspaper and Alden Global Capital had no comment.