Gannett is going down the tubes and fast folks, they are laying off 1,000 people across the US from its unprofitable newspaper operations.
With the crappy quality of their Eastern Shore publications and worse than crappy attitude by their advertising & sales department all I can say is GOOD RIDDANCE!
I truly hope there will be some quality publications or that our blogging networks will take thier place.
I have spent millions of dollars in advertising and dealt with just about every major publication in the US over the past 20-years. The team that runs the Eastern Shore newspapers by far has to be the most arrogant bunch of assholes I have ever been forced to deal with.
Editorial & Opions aside the people from the Eastern Shore newspaper group simply do not know how treat customers or how to run a profitable business.
With the SBYnews and ll the other blogs and real sources of news, I rarely bother to even go to any Gannett website or pick up one of their poorly produced papers.
To those who play the stock market its time to 'Short' your Gannett stock!
McLean-Based Gannett to Cut 1,000 Newspaper JobsMcLean, Va. --
Gannett, the McLean-based publisher of USA Today and 84 other daily newspapers, said that it plans to eliminate 1,000 jobs -- including 600 layoffs -- across its newspaper operations. USA Today, which suffered 45 job cuts in November, reported that it won't be affected by the latest round. The cuts, which represent about 3% of the workforce at Gannett's local newspaper division, come as the newspaper industry continues to experience declining revenues caused by the slumping economy and the shifting of ads to other online sources. Rival publisher Tribune also recently announced a series of cuts, including 100 positions at The Baltimore Sun.
http://www.usatoday.com/money/media/2008-08-14-gannett-job-cuts_N.htm?csp=N008
http://www.gannett.com/
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
8 comments:
After a mini-rally last week, when it went above $21, Gannett is back below $20/share. Hard to believe it waas about $50/share a year ago.
How many cut at the Daily Times???
What about Bassett???
I'm sure you will be happy for the people who will lose their jobs this week.
Yeah I have lost total respect for Joe and his Opinionated Blog Site. No one should wish anything like this on anyone.
This site attracts people because they like to here controversy, thats it. No one relies on your news, because it is Gossip and opinionated!!
Actually it sucks for the people losing their jobs.
Many of the local losses here on the Shore could have been averted if management had been responsive to the needs of the customers.
I don't like the corporation or the local management.
I don't have anything against the rank and file employee who is the one that will have to suffer for the sins of management.
They better get with times and quit sandbagging thinking that waiting it out things will get better. Already the local TV stations are so far ahead of them for tech web site quality and news (even though the Time's just changed there's) free classifieds and once again you don't have to wait until 6 o'clock 10 or 11 o'clock for the TV news, click the mouse, the life of a newspaper hasn't got long if you ask me. Save the trees. You don't have to go outside and hope your paper is there or it's wet. You want coupons, print them out!
Losing the jobs is going to hurt, I don't know anyone that works there personally however I would feel for anyone trying to buy a house and raise kids lose a good job with benefits in times like these. Even if I had differences with them I'd hate to see that happen. Many businesses make huge cut backs during tough times, the businesses that use times like these to re-group, invest, staying open, making changes and improvements will be the successful businesses when things change and there's a huge demand. I do agree things will likely get worse before it get's better, you just have to consider it part of the investment to maintain good service and product.
On the flip side if you own a bar, sell beer or own a liquor store business goes up in times like these, that I do know from 25 years of experience!
As much as I don't like the editors style of selective censorship and biased journalism, I really hate hearing another 1000 people will be out of work. I'm sorry for all of those that may be losing their jobs or laid off.
The hatchet job is in progress today (Tuesday) at the Daily Slime. Many casualties.
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