Gannett To Lay off 700
Jim Hopkins of the independent Gannett Blog reports that the media giant is letting 700 people go and asking others to take unpaid furloughs to prevent further layoffs.
Today’s disclosure of 700 newspaper layoffs is the single largest round since July 2009, when the U.S. newspaper division eliminated about 1,400 jobs, mostly through layoffs. This is the fourth mass layoff since August 2008.
Gannett had 32,600 employees worldwide at the end of last year, according to the most recent figures available. About 22,400 of those were at U.S. newspapers.
Today’s cuts came after many newspaper workers took one-week unpaid furloughs during the current quarter. And they come three months after GCI disclosed that Chairman and CEO Craig Dubow got paid $9.4 million last year — twice what he earned in 2009. Other senior executives also got huge raises, company documents show.
The inexorable death spiral of newspapers.
(Source: futurejournalismproject)
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The inexorable death spiral of newspapers.
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