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Gannett to cut more than 1,000 jobs
The Wall Street Journal reports that Gannett Co. will cut between 1,000 and 2,000 jobs from its work force.
WSJ sites a person “familiar with the company’s thinking” with the information.
According to the article, cuts will come from the U.S. Community Publishing division, which includes Gannett’s local dailies. But cuts won’t impact USA Today.
The move, would follow cost-cutting efforts by Gannett over the past year when the publisher cut 4,600 jobs last year and then required most remaining employees to take furloughs in the first and second quarters.
Gannett, which reports second-quarter earnings in mid-July, had $3.7 billion in debt at the end of the first quarter.
The move, would follow cost-cutting efforts by Gannett over the past year when the publisher cut 4,600 jobs last year and then required most remaining employees to take furloughs in the first and second quarters.
Gannett, which reports second-quarter earnings in mid-July, had $3.7 billion in debt at the end of the first quarter.
View the story here.
