Gannett Celebrates "Promising Signs Of Recovery" By Firing 1400


More Prozac for the newspaper industry, please.

AP via MediaGuardian: Newspaper publisher Gannett plans to cut 1,400 jobs in the next few weeks, about 3% of the workforce, as it faces a prolonged slump in advertising revenue.

Bob Dickey, head of the company’s newspaper division, informed staff of the layoffs in a letter today. He told employees that “there have been some promising signs of a recovery, but the reality is the improvements are not broad-based and the economy continues to be fragile”.

The majority of layoffs will come by 9 July, he said.

The move follows a 10% cut at Gannett last year, which left the company with about 41,500 employees.

Gannett publishes USA Today, the largest newspaper by circulation in the US, along with dozens of other newspapers.

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