New York: Newspaper publisher Gannett Co. Inc., that reported a 32% drop in quarterly profit last week, plans to eliminate about 10% of jobs at its US newspapers as advertising sales continue to decline.
The cuts should be completed by early December and don’t apply to the USA Today, spokeswoman Tara Connell said in an interview on Tuesday. She declined to give a total number and said firings would be “significantly less” than the 3,000 reported by a blogger.
The reductions come on top of 1,000 positions, or about 3% of the community publishing workforce, eliminated in August. Gannett, which owns 85 daily newspapers, said last week it planned to cut more jobs and evaluate its dividend after third-quarter revenue fell 9%, led by an 18% drop in publishing ad sales.
The company told individual newspaper publishers to submit their reductions by 14 November, Connell said. Each publication will make its own firing decisions, she said.
The cuts were reported earlier on Tuesday by blogger Jim Hopkins, a former Gannett employee.
Gannett is trying to trim costs at a time when industry print ad sales have posted accelerating declines.
US newspaper circulation fell 4.6% in the past year, and the price of newsprint has risen at a record pace.