Publisher Gannett to Impose Another One-Week Furlough

Authored by Mark Hefflinger on March 24, 2009 - 9:41am.

McLean, Va. - For the second time this year, newspaper publisher Gannett (NYSE: GCI) will require employees to take a week of unpaid leave in an effort to lessen the effects of the ongoing recession.

In a memo to employees obtained by Reuters, CEO Craig Dubow called the move was a necessity.

"Despite all of your truly remarkable efforts to reverse the trend, our revenue numbers continue their downward slide and we have been faced with more difficult decisions," wrote Dubow.

A similar move announced in January saved the company $20 million.

Gannett, which publishes USA Today and 84 other daily newspapers, has around 40,000 employees.

Related Links:
http://snipurl.com/ehfqu (Reuters)

http://www.gannett.com