Thursday, July 2, 2009

Big Ouch: Gannett Axes 1,400 Jobs

According to the Wall Street Journal:

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.

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.
AP Business Writer Andrew Vanacore provides a more specific number:

Newspaper publisher Gannett Co. plans to cut 1,400 jobs in the next few weeks, about 3 percent of the work force, as it faces a prolonged slump in advertising revenue.
Tellingly, the most likely place to find that AP story is not at a newspaper Website, but at Yahoo or Google News , neither of which pay for its use, but make money whenever someone views the story on their respective sites. And therein lies the problem.

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