Gannett, the largest U.S newspaper company, is cutting another two percent of its workforce. That cut, which should total about 350 or more positions throughout the company, was made official in an internal memo (reproduced below) to Gannett employees by CEO Bob Dickey moments ago.
On Friday, POLITICO had reported [“Gannett approaches possible billion dollar deal to buy Tronc – and layoffs, too”] the layoffs and other cost reductions would be announced this week.
Gannett will announce its third-quarter earnings on Thursday. Company insiders say they won’t be pretty, as print ad revenue losses largely between five and eight percent at many of its more than 100 properties swamp efforts at digital business revenue growth.