[How low will it go? GCI annual employment at Jan. 1]
Following earlier reductions through attrition and buyouts, the 600 layoffs and 400 job cuts announced last week will likely result in a record annual decline in the company's workforce by year's end. Gannett employed 46,100 employees at the start of the year, down 7% from a year before, public documents show. Payroll peaked at 53,400 in early 2001, reflecting acquisitions the previous year, including The Arizona Republic.
[Data: 10-K filings with Securities and Exchange Commission]
38,125 is the number.
ReplyDelete@7:52 am: That's an intriguingly specific number. Where does it come from?
ReplyDeleteIt's so low, I can't believe it.
ReplyDeleteI worked for Gannett for two decades, before deciding a few years back it was time to escape, after working for a complete sociopath. She made life miserable for her staff with the sadistic joy of a Nazi concentration camp commander. And she's still there.
ReplyDeleteI feel the culture changed when USA Today was hatched and a devil's pact was made with Wall Street.
Now it's time for Gannett to head for hell.
So expect a corporate mandate like this sometime in the future:
In an attempt to offer a more reader friendly product, Gannett has cut all of its staffs to five editors and one reporter. But if 25percent profit margains are not maintained, more cuts will be made to reporting staffs. We are certain, however, that Gannett will continue to provide readers the same quality local coverage they have come to expect in the past.
Jim,
ReplyDeleteI like the spreadsheet you put up - one question - do you have the info to mark where there were large acquisitions or sales of properties? For example, to show where we sold Gannett Outdoor, Radio, or purchased PNI, INI, Thomson, etc....
@1:57 pm: I do not have those major acquisitions and sales; wish I did!
ReplyDeleteSales and acquisition history from 2003 through 2007 is in a chart on the annual report.It's on page 70 of the PDF document which is actually page 60 of the report. If you want the years before that Google Gannett Co Inc 2002 Annual report and you will get a link to the annual report. Typically the order of the pages and items doesn't change very much so look around page 58-62 in earlier years reports.
ReplyDeleteThe 2007 link is http://www.gannett.com/07GCIAnnualReport.pdf
So what is the over/under on Gannett 2008 YE employment. I'm thinking 42000 unless they sell something.
ReplyDeleteindy was bought in y2k
ReplyDelete