In August, unionized workers held a coordinated “lunch-out” with hundreds of employees rallying during lunchtime to protest layoffs.
The layoffs are part of a broader move by Gannett to cut costs. It has targeted $200 million to $240 million in annualized cost savings through both temporary and permanent actions.
In addition to a quarterly loss, Gannett’s $717.9 million in third quarter revenue was 10.3% lower than the same quarter a year ago.
Gannett’s bright spot during its most recent quarter was digital. It saw 28.5% year-over-year digital-only paid subscriber growth, reaching 1.98 million paid subscribers.
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