Media News - Friday, August 15, 2008

Gannett is cutting 1,000 newspaper jobs

Gannett Co. is eliminating 1,000 jobs, including 600 layoffs, across its newspaper operations, a company spokeswoman said Thursday. USA Today, the largest-circulation newspaper in the US, wasn't affected by the latest round of cutbacks, but had 45 job cuts of its own last November. The latest cuts will affect Gannett's other newspapers, which include 84 dailies such as The Arizona Republic and the Detroit Free Press as well as nearly 900 non-daily publications. The cost-cutting drive at the country's largest newspaper publisher is the latest effort by the industry to cope with declining revenues due to an economic slump and a continuing migration of advertising dollars online. News of the job cuts was reported Wednesday on a blog run by a former editor and reporter at Gannett, who obtained a company memo addressed to publishers. The publishers were asked to notify employees of the cuts by Friday. Other major newspaper publishers have also been slashing jobs, including McClatchy Co., which said in June it would eliminate 1,400 jobs, or about 10 percent of its work force. Gannett shares rose $2.05, or 10.6 percent, to $21.31 (14.30 EUR) in afternoon trading. (Chicago Sun-Times)

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