Gannett to cut 1,000 jobs

MCLEAN, Va., Aug. 15 (UPI) -- U.S. newspaper giant Gannett, publishers of USA Today and hundreds of other papers, said it would cut 1,000 jobs, including 600 by the end of the month. The company expects to eliminate 600 jobs soon and allow attrition to claim the rest of the reduction, The Washington Post reported Friday. Gannett, based in McLean, Va., said the cuts were due to declining revenues. With 23 television stations, and 85 daily and 900 non-daily newspapers, the company, worth $4.8 billion, reported second quarter advertising revenue dropped 13.6 percent compared with a year ago, the Post reported. "We would prefer no more reductions, but we must keep expenses in line with revenue," a recent company memo said. Further revenue declines could also result in more cuts in the future, the memo said.


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