Wednesday, June 22, 2011

Gannett cuts 700 jobs company-wide ...

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Citing Weak Economy, Gannett Turns To Job Cuts, Furloughs

With the economy looking a bit weaker than it was at the start of the year, Gannett (NYSE: GCI) has returned to layoffs at its 80 U.S. community newspapers. According to a memo attributed to the division’s president Bob Dickey and obtained by Romenesko, the McLean, Va.-based publisher will cut 2 percent of its workforce, or roughly 700 jobs.

Gannett flagship USA Today, which is not part of the community publishing division, is not affected by this announcement. But unless the print ad picture turns around, it too could find itself hit with more reductions.