Bulletin: Newspaper buyouts said just announced; widespread early-retirement offers would be a first

[Updated at 1:10 p.m. ET with report confirming offer has been announced; new details on number affected, addition of site-by-site buyout tracking spreadsheet.]

A reader now says the offer has just been announced, and that it has been extended to "665 U.S. Community Publishing employees who are age 56 with at least 20 years of service, as of March 31, 2012, and who are in certain departments and/or job categories."

My earlier post: Corporate is expected to announce what would be the first nationwide buyout offer for potentially hundreds of employees early this afternoon, according to readers -- an early-retirement deal that would represent a major shift in the company's payroll reduction strategy.

Timing for these events is always subject to change, including delays or outright cancellation. But I now believe an announcement could come as soon as 1 p.m. ET.

But it would seem likely such an announcement would come after stock markets close at 4 p.m. ET, to give investors time to digest the news. Gannett's stock recently traded for $14.83 a share, down 31 cents, or 2%. That's still way up from a low of $10.30 three months ago.

Gannett Blog speculation for more than a month now has focused on buyouts being offered to employees in their mid-50s and older, likely with a minimum number years of service. I have been unable to confirm those details, however. I suspect the offer will be largely or exclusively for U.S. newspaper workers. There are about 20,000 of those, including all ages.

In a buyout, qualified employees -- usually older, with many years of service -- are asked to quit their jobs in return for enhanced severance benefits. Buyouts are typically offered with a threat of layoffs if an insufficient number of employees accept them.

These are among the details expected with this afternoon's notice, which could come in a memo from at least U.S. newspapers division President Bob Dickey.

Until now, GCI has never extended buyouts to such a broad group of employees simultaneously; in the past, they were offered on a site-by-site basis over different time periods. Any offers would be a dramatic change in GCI's payroll cost-cutting strategy, which since 2008 has focused almost exclusively on increasingly draconian mass layoffs, pay freezes and unpaid furloughs.

Last June, GCI laid off 700 U.S. newspaper workers. Since 2008 alone, the company has shed more than 10,000 jobs, or about 25% of all.

Like other newspaper publishers, GCI is struggling to find new sources of revenue as its mainstay business -- selling newspaper advertising -- remains on the decline. Last year, overall revenue fell 3.7%, to $5.2 billion, on a steeper 7.4% drop in print advertising, GCI reported last week. Earnings tumbled 20%, to $1.85 a share vs. $2.35.

Spreadsheet to track buyouts
Assuming Corporate makes an announcement, I'll count the number of buyouts on a site-by-site basis.

Please go to this spreadsheet and see if your site is represented. Then, in the comments section, below, post any new or updated information.