FIRE NELL ESCOBAR COAKLEY: GANNETT EMPIRE CRUMBLING QUICKLY

 

Gannett lays off journalists after dismal second quarter results

At least 20 papers across the country have been affected. It is unclear how many employees were let go  The NewsGuild, which represents more than 1,500 Gannett journalists across roughly 50 newsrooms, had tracked 35 layoffs across 20 newsrooms by Friday afternoon, according to president Jon Schleuss. Two of them were from unionized papers.

The union has called on Gannett to reduce executive pay and “frivolous spending” instead of cutting jobs. Last year, CEO Mike Reed made $7.7 million while the median salary at Gannett was $48,419. The company also instituted a $100 million stock buyback program in February. Earlier this week, Reed bought 500,000 shares of the company’s stock, worth $1.22 million.

Gannett has also invested in anti-union lawyers to counter union drives and delay contract negotiations, according to the NewsGuild. The company currently faces 14 open Unfair Labor Practices charges, according to a National Labor Relations Board database.

https://www.poynter.org/business-work/2022/gannett-lays-off-journalists-after-dismal-second-quarter-results/