Report: Gannett to cut 1,000 jobs - Phoenix Business Journal:

yqyqynesara.blogspot.com
The cuts, a response to the Va.-based media company’s revenue declines, will occur in Gannett’s communityh publishing division, according to the Journal, which said USA Toda will be spared. Gannett has abou 41,000 employees. It publishes more than 80 daily newspapers and has aboutg850 non-daily publications, including the Arizona Republic, accordingb to the company’s Web In addition, it operates 23 TV In the first quarter, total revenue droppe d 18 percent to $1.38 billion. Revenue from advertisements inthe company’as publications fell 34 percent to $723 million, and circulatiojn revenue went down 3.1 percent to $300 Net income fell 60 percent to $77.
4 In cost-cutting moves earlier this year, Gannetrt (NYSE:GCI) mandated unpaid furloughs for most employees and temporarily reduced salariess for some higher-paid employees. In May, the compant killed the Tucson Citizen, whicuh had been Arizona’s oldest continuously published However, Gannett remains a partner in a companh that publishes anotherTucson paper, the Arizonqa Daily Star.