Gannett confirms cuts

Dateline: Thu 14 Aug 2008

Editor and Publisher reports that Gannett will trim 3 percent of its workers --- that's about 1,000 employees --- through cuts and attrition.

Decisions on staff layoffs will be made "at each (Gannett) property based on financial targets and performances," says Editor and Publisher, quoting Gannett's veep for communications Tara Connell.

"The McLean, Va.-based company publishes more than 80 dailies, including USA Today, and 900 non-dailies."

Gannettblog reports that the trims are good news for investors; shares are trading at $20.92, up a healthy 8.6 percent.

Here is the E and P link:

http://www.editorandpublisher.com/eandp/index.jsp

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