Gannett Fires 1,000 Employees
June 30, 2009 by Stephen Kersey
Filed under Business
Gannett, one of the largest newspaper publisher in the United States, is set to fire an additional 1,000 employees. The Wall Street Journal, who originally reported this news, says that the number could of Gannett employees fired could be raised to 2,000.
Prior to the firings, Gannett is estimated to have about 41,500 employees. But with the newspaper industry in turmoil, it’s not much of a surprise that Gannett is searching for ways to save money.
The newspaper industry has been hard hit as of late due to multiple reasons. First of all, the rise of the internet has convinced marketers to spend money online rather than in newspaper print. Another reason is a reason that affected almost every industry — the global economic downturn. With people trimming their budget, newspapers are one of the first things tossed aside.
Newspapers that Gannett owns include USA Today, the Detroit Free Press, The Indianapolis Star, The Arizona Republic and The Cincinnati Enquirer.
If the newspaper industry continues to struggle, expect even further cuts by Gannett. Shutting down a few more of their underperforming newspapers could also be a possibility.
USA Today (Image: Flickr)
