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Gannett Sheds 700 Jobs Gannett Sheds 700 Jobs

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Politics

Gannett Sheds 700 Jobs

June 22, 2011
Each newspaper publisher will be responsible for determining how their costs and revenues balance out with the current revenue trends in their market. On top of layoffs, furloughs will also be enforced on those whose salaries fall above a specific range. "In an effort to reduce the number of people being let go, there will be furloughs in the coming months but they will be limited only to those on the USCP corporate payroll who make over a certain salary," wrote Dickey. Gannett's last massive round of layoffs, which took place in July 2009, included about 1,400 employees. With four huge layoffs since 2008, some have criticized Garrett executives for their increasing salary and benefits. According to "Gannett Blog," Chairman and CEO Craig Dubow was paid $9.4 million in 2010, almost double of what he earned in 2009. Gannett, based in McLean, Va., also owns multiple television stations and careerbuilder.com. At the end of 2010, the media company had approximately 32,600 employees.
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