The Gutting of Gannett

Fillet knives are coming out in news rooms (er… Yokel Information Centers…) across Gannettdom as operations are scaled back. Here are some choice quotes from the wires:

     Washington Post: “The company confirmed yesterday that the job cuts come in response to the earnings.” Of course they were not in response to moronic management…

     Pacific Business News: “Gannett papers across the country have been quietly shedding jobs for more than a year as publishers struggled to make budget numbers but this is the first time the company has made an announcement on company-wide job cuts.” Our paper never mentioned any layoffs last year or this year. This time, thanks to the way the story is spreading like wildfire, they had to…    

     Nashville Scene: “Here in Nashville, that means that about 50 positions will be cut, according to Bob Faricy, the guy who returned our call to Tennessean publisher Ellen Leifeld.
     “Faricy says that 40 of the jobs set for axing are already vacant and just won’t be filled. The other ten, unfortunately, are currently held by actual humans who will soon find themselves unemployed. Exactly who will be taken to the woodshed has not yet been finalized, but Faricy says that the layoffs should come from both the business and editorial departments.
     “The cost cutting has already gotten rather uncomfortable for folks at 1100 Broadway. There’s a rumor (see comments) floating around that the air conditioning went kaput during last week’s heat spell because the guy who usually fixes it had taken a company buyout. When the mercury started climbing, Tennessean bosses brought out fans, electing not to fix the AC until the fall, when repair prices are cheaper.”
 
     Jackson Free Press: “Wall Street responds: Gannett shares rose $1.56, or 8 percent, to $20.82 on the New York Stock Exchange. Many other newspaper shares rose as well on Thursday.
     “Gannett is rewarded here by focusing on ’shareholder value’ and cutting payroll at a time when readership continues to sink because there’s less-and-less relevant content for readers. Wall Street responds “hooray!”
     “As long as ’shareholder value’ is in the driver’s seat for Gannett, they’ll keep losing.”
     Addendum: Make that, as long as Craig Dubow is in the driver’s seat…

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