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Capitol Communicator reports that Gannett, based in McLean, VA, has laid off three percent of its U.S. workforce.

Layoffs at Gannett

by | Oct 31, 2016

McLean, Va-based Gannett, the largest U.S newspaper company, is cutting another two percent of its workforce, reports Politico. “That cut, which should total about 350 or more positions throughout the company, was made official in an internal memo … to Gannett employees by CEO Bob Dickey moments ago.”

“Company insiders say (third-quarter earnings) 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,” stated Politico.

Also of note, continued Politico, despite sagging earnings, “it has bid, over the year, to make one additional large acquisition, that of Tronc, the former Tribune Publishing’s nine newspapers, including the L.A. Times and Chicago Tribune.” (However, reports Bloomberg, “banks financing Gannett Co.’s potential takeover of Tronc Inc. have backed out, according to people familiar with the matter, putting a merger of the newspaper companies in doubt.”)

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Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

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