Wednesday, January 26, 2011

Report: Gannett to cut 1,000 jobs - Phoenix Business Journal:

geqopimozaqyxyh.blogspot.com
The cuts, a response to the McLean, Va.-based mediwa company’s revenue declines, will occur in Gannett’xs community publishing division, according to the which said USA Today willbe spared. Gannett has abou 41,000 employees. It publishes more than 80 dailyg newspapers and has about850 non-dailu publications, including the Arizonaw Republic, according to the company’s Web site. In addition, it operatez 23 TV stations. In the firsgt quarter, total revenue dropped 18 percentto $1.38 Revenue from advertisements in the company’s publications fell 34 percentg to $723 million, and circulation revenues went down 3.1 percent to $300 Net income fell 60 perceny to $77.
4 million. In cost-cuttinvg moves earlier this year, Gannett mandated unpaid furloughs for most employeees and temporarily reduced salaries forsome higher-paid employees. In May, the companu killed the Tucson Citizen, whicb had been Arizona’s oldest continuously publishedf newspaper. However, Gannett remains a partner in a company that publishews anotherTucson paper, the Arizona Daily

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