Gannett Co. is laying off 600 employees today. Staffers at The Honolulu Advertiser got the notices today, since the company is selling the publication. Everyone must go.
They might be rehired once the newspaper gets absorbed into Oahu Publications Inc., which owns the Honolulu Star-Bulletin.
Here’s more from the AP:
The majority owner of the Star-Bulletin, David Black, has put his newspaper up for sale. However, he has said if a buyer isn’t found, the two newspapers will merge and layoffs will occur.
It isn’t known how many Advertiser employees would be rehired under a merged operation.
The Advertiser reported last week that Gannett is providing more than $40 million to help finance the purchase. The purchase price hasn’t been disclosed.
Gannett Co., the largest U.S. newspaper publisher which owns USA Today and more than 80 other publications, turned a profit in the fourth quarter, helped by a slash in expenses and a smaller decline in ad sales.
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