Tue Dec 02, 2008 at 03:30:48 PM EST
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Gannett has been struggling along with the rest of the Newspaper industry:Gannett (GCI), the largest newspaper publisher in the U.S., reported Q3 revenue of $1.6 billion, a decrease of 11% over the year, while meeting analysts? expectations. EPS of $0.76 was lower than the market?s expectations of $0.78 and was down 25% over the year. As a result , the budget axe is swinging again:Gannett Co. Inc. is eliminating positions today at six newspapers in New Jersey due to declining advertising revenues and the severe economic downturn afflicting the state and the nation.
The company began notifying the affected employees this morning at the Asbury Park Press, the Courier-Post in Cherry Hill, the Home News Tribune in East Brunswick, the Courier News in Bridgewater, the Daily Record in Parsippany and the Daily Journal in Vineland And according to PNJ, their Trenton staff will be cut by 2/3:The latest casualties to media cutbacks are four Gannett New Jersey statehouse reporters: Tom Baldwin, Michael Rispoli, Lisa Ryan, and Greg Volpe. That cuts Gannett?s statehouse bureau from six reporters to two, with only Bob Ingle and Michael Symons surviving the budget cuts. This is just a continuation of the downsizing for NJ media outlets including the Star Ledger who lost all but 1 member of its editorial board and NJN where many workers accepted buyouts. The new editorial page editor of the Star Ledger may not trust or like what is on the internet, but if this trend keeps up he won't have many other options because there will not be many people left actually covering New Jersey. |
| Jason Springer :: Gannett announces cuts including 2/3 of Statehouse staff |
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