Gannett Media has announced it will lay off 6% of its staff in the News Division effective December 1st. It’s estimated 200 people will lose their jobs in this most recent cost-cutting measure. About 400 employees were laid off earlier this year.
Gannett Media owns newspapers in 45 states, 11 of these publications are in Wisconsin, including The Sheboygan Press, the Herald Times Reporter, the Green Press Gazette, and the Post Crescent in Appleton.
The Company has implemented additional cost-cutting measures including, pausing its 401(k) match, offering employees a voluntary severance plan, and is having workers take five days of unpaid leave.
Gannett Media has forecast a total net loss of $60 million to $70 million for the year as the company attempts to adapt to the tight economic conditions and face the reality of a new generation not reading newspapers.
