GANNETT TO CUT 1,000
Bloomberg
Posted: 4:02 am
August 15, 2008
Gannett Co., the largest US newspaper publisher, plans to eliminate about 1,000 jobs as advertising sales for the industry continue to decline.
The cuts amount to 3 percent of the McLean, Virginia-based publisher's community newspaper workforce, spokeswoman Tara Connell said.
Gannett last month reported a 16 percent drop in June ad sales at its publications, including a 27 percent drop at USA Today.
The shares rose $2.05 to $21.31 in New York Stock Exchange trading, the most since April. The shares are down 45 percent this year.
Posted: 4:02 am
August 15, 2008
Gannett Co., the largest US newspaper publisher, plans to eliminate about 1,000 jobs as advertising sales for the industry continue to decline.
The cuts amount to 3 percent of the McLean, Virginia-based publisher's community newspaper workforce, spokeswoman Tara Connell said.
Gannett last month reported a 16 percent drop in June ad sales at its publications, including a 27 percent drop at USA Today.
The shares rose $2.05 to $21.31 in New York Stock Exchange trading, the most since April. The shares are down 45 percent this year.
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