MCLEAN, Virginia -- Newspaper publisher Gannett (and parent company of WKYC-TV) is forcing most of its workers to take another week of unpaid leave before July. The furloughs spelled out Monday in a company memo are being imposed to avoid laying off more employees as Gannett tries to offset a steep drop in advertising revenue.
Gannett owns USA Today and more than 80 other daily newspapers, including The Cincinnati Enquirer and 10 newspapers in central Ohio cities.
This marks the second time this year that most of Gannett's 41,500 workers have had to give up a week's pay. Most employees, including CEO Craig Dubow, were furloughed for at least five days during the first three months this year.
This time around, Gannett is requiring its higher-paid workers to relinquish up to two weeks pay during the April-June period.
Source: The Associated Press
1 comment:
It is unfortunate that dismal classified sales are part of what's driving this trend (at least on the local paper level). People turning away from classifieds and using other online sales tools (Craig's List) are what's killing the papers, and the readers don't realize they're doing it.
There are other factors too. Declining subscription rates are also to blame.
I'm curious to see how the print industry continues to address the situation. They've gotta come up with something new fast because forced unpaid leaves are not a long term solution to their problems.
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