The direct-mail marketing magazine publisher laid off 40 of its 600 employees at company headquarters in Mountville, Pa., according to this published report.
The reduction, which took place Thursday, comes four days before Gannett is to report fourth-quarter financial results that Wall Street analysts say will show declines in revenue and profits from a year before.
Even with the cuts, however, Clipper remains one of GCI's bigger divisions, with about 1,200 employees. GCI bought the company in October 2003 for an undisclosed sum.
The company says it publishes 717 local editions in more than 30 states, mailed 6-8 times annually and targeting 20,000-27,000 homes per issue. Overall readership totals 230 million, the company says.
Even with the cuts, however, Clipper remains one of GCI's bigger divisions, with about 1,200 employees. GCI bought the company in October 2003 for an undisclosed sum.
The company says it publishes 717 local editions in more than 30 states, mailed 6-8 times annually and targeting 20,000-27,000 homes per issue. Overall readership totals 230 million, the company says.
This is the first time I recall seeing anything about clipper on this blog. As we know, gannett bought this firm some years ago, yet we never hear anything about their operation, performance or anyhing else. Is it possible that gannett is starting to destroy them (gannetizing) like they have ruined everything else?
ReplyDelete12:41 This isn't entirely your imagination: I've posted very, very little about Clipper Magazines -- despite their significant employment.
ReplyDeleteI regret that.
I hope you understand that Gannett is a large company, with operating units in more than 30 states, Guam, and the U.K., employing more than 30,000 employees.
For those reasons, I rely on my readers -- including Clipper employees -- to help keep me abreast of current news.
Please know that, while I may write infrequently about some units, that doesn't mean I'm not interested.
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ReplyDeleteClipper is a good product with a good business model. I am surprised as well that the mother ship has yet to destroy their product and how they operate. The concept is a good.one providing nearly 100% penetration into targeted areas especially as newspaper cannot deliver much penetration at all, and are declining. Clipper,however, is expensive.
ReplyDeleteAgreed, 11:44. I use Clipper as a consumer and know at least a half-dozen local business owners who felt they got a good return on it. Sad to hear about the layoffs in an place where there are not a huge number of employment options. Good luck to the 40, and to us all.
ReplyDeleteAs a former employee of Gannett, I had the opportunity to work at several of their locations, including Clipper. Gannett, in my humble opinion, has always produced quality products in their newspaper line. Unfortunately, the 3 (former) owners of Clipper wanted to run the organization in the same way they ran it in college. Gannett improved the company in so many ways, yet I found most Clipper employees wanted nothing to do with Gannett. That, if nothing else, will cause the downfall of the mag.
ReplyDelete