Gannett Memo Lays Out 1400 Layoffs, Restructuring:
"NEW YORK 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.
Bob Dickey, head of the company's newspaper division, informed staff of the layoffs in a letter Wednesday. 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 July 9, he said.
The move follows a 10 percent cut at Gannett last year, which left the company with about 41,500 employees."
Wednesday, July 01, 2009
Blame it on the other guy...
Yeah, that stimulus thing seems to be working out really well, eh?
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