Gannett makes company-wide cuts in reorganization
Gannett is cutting less than 1 percent of its total workforce in a company-wide reorganization, a Gannett spokesperson told Poynter Wednesday.
The cuts were announced to employees by CEO Bob Dickey in a video to employees Wednesday. Gannett, which has more than 20,000 employees globally, continues to battle declining print advertising earnings alongside the rest of the newspaper industry.
Its first-quarter earnings showed print advertising revenue decline 17.7 percent compared to the first quarter of 2016, with circulation revenues down 8 percent year-over-year.
The cuts could result in about 210 lost jobs across the company, according to Gannett's USA Today. They begin Wednesday and are expected to continue until Sept. 15.
Management opted for the restructuring as part of its constant evaluation of "the business and the investments we need to make to be an industry leader," he said. "As I said before, transformation is not easy. We must continually look at our organizational structure and make smart investments."