In a letter to U.S. Community Publishing employees, president Bob Dickey said, “Unfortunately, we must take these steps because the advertising environment remains challenged. There have been some promising signs of a recovery, but the reality is the improvements are not broad-based and the economy continues to be fragile.”
From Bloomberg News…
The cuts account for about 3.4 percent of Gannetts workforce. The McLean, Virginia-based company has enforced two weeks of unpaid leave for most employees, slashed its dividend and shuttered the Tucson Citizen newspaper to save costs. Publishing ad revenue dwindled 34 percent in the first quarter. More…
Advertisement