One year chart of Gannett (GCI)
Posted on 05/10/2008 6:18:36 AM PDT by abb
ASBURY PARK Gannett Co. Inc. on Friday said it was offering buyouts to a total of 160 workers at five of its six newspapers in the state of New Jersey, as advertising revenues decline.
The buyouts were offered to employees over age 55 who have at least 15 years of service with the company, said Judi Dorsey, vice president for human resources at the Asbury Park Press, Gannett's flagship paper in the state.
The 160 employees targeted were asked to respond to the offer by the end of next week. Layoffs are possible if not enough buyouts are accepted, Dorsey said.
Gannett is the country's largest newspaper publisher.
Thomas Donovan, president and publisher of the Asbury Park Press and vice president of Gannett's East Newspaper Group, said economic conditions prompted the move.
He would not discuss whether declining circulation, a continuing problem at most U.S. newspapers, was a factor.
ping
Oh My! This terrible news can’t be true.
Just a couple of years ago, we were told how great Gannett was, and how the problems of the dinosaur fishwraps would not impact Gannett.
It seems like the left wing mediots in the MSM are taking a page from the Clintoons to announce bad news on Fridays and Saturdays.
Geeze, Gannett is one of the sites that don’t allow posting their stories on FR. Ha-ha.
One year chart of Gannett (GCI)
Thanks that chart shows that GCI is in real trouble after the bs/hype of invincibility has been shredded.
Is the Gannett chain the usual democrat party lying mouthpieces or are they honest news sources? I simply don’t know.
It appears that Gannett are leftist. In which case, this is wonderful news.
their local print product sucks, and now their new and IMPROVED website sucks even more... all they can manage to do is dump on the small towns around them instead of looking into the problems in their own city
the one here leans left too.
ohhh yeah... 
Here is a page that has links to all their newspapers and TV stations. Without exception, they are typical Drive-By Media propaganda outlets.
http://www.gannett.com/about/map/propmap.htm
Many years ago, they formulated a business plan of buying newspapers in small to medium sized markets. In each market, they then commenced a scorched earth policy toward competing newspapers by undercutting advertising rates. After the competitor was squeezed out, they had a print monopoly in the market.
It made them lots of money until the internet came along and ended their monopoly.
The Chain Gang: One Newspaper Versus the Gannett Empire
http://www.amazon.com/Chain-Gang-Newspaper-Versus-Gannett/dp/0826210643
I will do the Snoppy happy dance down Broadway, NYC, when Gannett goes under!!!!
Here in Louisiana, they have monopolies in Monroe, Shreveport, Lafayette, Alexandria and Opelousas. I’ve had dealings with them over the years. It was a waste of time trying to reason with them.
I too will do a Snoopy dance when they gurgle under the tar pits.
Some barking moonbats I chat with on the net say Gannett is a stooge for the three letter intel agencies.
But all those cities in Louisiana are the ones where Barry Seal's product ended up.
Hmmmmmm
The 160 employees targeted were asked to respond to the offer by the end of next week. Layoffs are possible if not enough buyouts are accepted, Dorsey said.
My bet, there will be layoffs, the staffers at those newspapers besides the marketing dept, layout design and machinists are almost without a skill set to get work in NJ's business environment right now.
Layoffs mean the newspapers will be LOWER quality, will rely MORE on Al-Reuters and Ape-Pee, and will reflect the moderate tendencies of their readers LESS.
Newsday, an evil leftist rag here on Long Island, has the same drive-by hard left outlook and monopolistic, anti-competitive ad-grabbing business model as the Gannett chain.
Thank G-d for the Internet, especially E-Bay and Craigslist, to put an end to these liberal liars. (soon, hopefully)
bump
It may not effect their USA Today paper as much and as fast. The large metros are definitely going to be taking the worst hits.
It’s intersting that E&P is showing all the recent layoff articles as being written by “Staff”.
Gannett = McPaper = USA Today the motel paper.
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