Gannett cuts 400 employees and not fill 400 open positions
Gannett CEO Mike Reed told staff in a companywide Q&A session that Gannett, based in McLean, VA, laid off three percent of its U.S. workforce, or roughly 400 employees, in August, according to three people who attended the meeting, reports Poynter.
The announcement comes more than two weeks after Gannett, the nation’s largest newspaper chain with more than 200 papers, executed a round of layoffs starting Aug. 12. According to Poynter, hough employees and reporters had repeatedly asked Gannett for information about the scope of the layoffs, “the company declined to provide that information until now.
“CFO Doug Horne, who was also present at the meeting, told staff that in addition to the layoffs, Gannett would not fill 400 open positions. Executives said the company slashed its marketing budget and made other non-payroll cost reductions, according to two people at the meeting. Gannett also reduced its executive team from 10 members to seven as part of a restructuring announced in June.”
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