Wednesday, July 01, 2009

Blame it on the other guy...

Yeah, that stimulus thing seems to be working out really well, eh?
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."

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