Gannett offers buyouts to 665 in newspaper division

Gannett Blog | JimRomenesko.com
Gannett Blog’s Jim Hopkins writes that the buyouts are “a dramatic change in GCI’s payroll cost-cutting strategy, which since 2008 has focused almost exclusively on increasingly draconian mass layoffs, pay freezes and unpaid furloughs.” Bob Dickey, president of Gannett’s community publishing division, says in a memo posted on JimRomenesko.com that 785 employees met the criteria for buyouts (at least 56 years old, with at least 20 years at the company, and in certain departments and job categories), but only 665 can take the company up on the offer because it needs the others. Jim Hopkins is tracking buyout offers for each Gannett property. || Earlier: Gannett lays off 700 from newspaper division (Poynter)

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  • Anonymous

    So Gannet needs 120, but they had 785. That tells me that management wasn’t doing it’s corporate job. What I think might be the culprit is the inflexibility of the pensions and packages at corporate, so they need to whittle down the numbers of the actual wealth creators to make their short term gain. How do they expect 125 people to generate what 785 people did?