Medford Transcript Parent Company A Mess, They Bit Off More Than They Could Chew, A Disservice to Readers, Staffers and Advertisers!

 

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.