Gannett Co., the largest U.S. newspaper publisher by daily circulation, will cut between 1,000 and 2,000 jobs out of its 41,500-person work force in response to continuing revenue declines, according to a person familiar with the company's thinking.
Gannett, which like most newspaper publishers is suffering from steep advertising declines, cut about 10% of its work force last year. The McLean, Va.-based company reported net income fell 60% in the first quarter.
The cuts will come from the U.S. Community Publishing division, which consists of Gannett's more than 80 local dailies, the person said, and won't affect the company's flagship, USA Today. The exact number of jobs to be cut wasn't clear. The cuts will be disclosed in the next few days.
Wednesday, July 01, 2009
Cuts coming at Springfield News-Leader
Another round of layoffs is on the way at Gannett, making it certain that some of those who lose their jobs will be at the Springfield News-Leader: