Gannett To Lay Off Between 1,000 To 2,000 Workers!

MCLEAN — Gannett Co. is preparing to lay off more than 1,000 employees as the largest newspaper publisher’s work force continues to shrink along with its advertising sales.

Between 1,000 and 2,000 people will lose their jobs in Gannett’s latest round of cutbacks, according to a story published Tuesday on The Wall Street Journal’s Web site. The Journal quoted an unnamed person familiar with the McLean, Va.-based company’s thinking.

The layoffs aren’t a major surprise because Gannett’s main source of revenue — advertising — has been rapidly drying up. Ad sales at Gannett’s newspapers plunged 34 percent during the first three months of this year and analysts doubt the company fared much better during latest quarter that just ended.

Go to The Daily Times to read more.