Gannett to Cut 10% of Jobs at Local Newspapers

Authored by Mark Hefflinger on October 29, 2008 - 7:26am.

McLean, Va. - Gannett (NYSE: GCI), the publisher of USA Today and 84 other daily newspapers, plans to cut about 10% of jobs -- upwards of 3,000 positions -- at its local papers, Reuters reported, citing an internal memo.

The news comes amid declining circulations and advertising revenues throughout the newspaper industry.

"Gannett's revenues continue to be severely impacted by this downturn, and our local operations are suffering," Robert Dickey, Gannett's Newspaper Division president, wrote to employees.

"While this is more bad news, it is a sign of Gannett's determination to remain healthy and viable as a company during these turbulent economic times."

Workers at USA Today are not expected to be effected.

Locally, Gannett also owns The Daily News Leader in Staunton, Va.; The Daily Times in Salisbury, Md.; and WUSA-TV in DC.

Gannett previously announced that it would eliminate 1,000 newspaper jobs in August.

 

Related Links:
http://snipurl.com/4tgx3 (Reuters)

http://snipurl.com/4tgxd (MarketWatch)

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