Gannett fans flames of resentment with 'deep sacrifices' comments

Dateline: Sun 23 Nov 2008

This is from an email dated Nov. 4. It is such a perfect example of the hubris that dominates corporate America, and is killing the newspaper industry, that it is worth wider dissemination.

"I am a Gannett employee and received this email from them. Thought I would share it with you. Too bad Dubow didn't take a real pay cut. His pay cut will simply put him in a lower tax bracket and he probably won't even notice that he lost anything.

"'Gannett Chairman, President and Chief Executive Officer Craig Dubow today announced that he will take a voluntary $200,000 (17%) salary reduction beginning November 1 and continuing through 2009. Also, all company and divisional officers will have their salaries frozen for 2009.

"All Gannett employees are making deep sacrifices for their company," said Dubow. "I have great empathy for those employees and their families who have lost their jobs. I also recognize that our employees are working harder and harder to produce results in a challenging business environment. But I firmly believe the steps we are taking now are necessary and will serve as the foundation for our future

success. I want to thank all our employees for their patience and loyalty during these difficult times."

'Gannett Presiding Director Karen Hastie Williams said: "We commend Craig for his leadership in taking this step. The Board is well aware that the company and the media industry generally are experiencing difficult times. The Board believes that the company's strategic plan has set the right course given the secular and cyclical challenges the company faces. The Board continues to support Craig and his management team and their efforts to lead Gannett into the future.'"


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