Media giant Gannett trims hundreds of jobs

Gannett’s plans of cutting down 700 jobs from its newspaper division, reported blogger Jim Romenesko. President of Gannett US, Bob Dickey,briefed that the main causes for the situation were the lack of businesses in the real estate sector, jobs and auto ad demand. He ensured that the decisions were not based on the performances and they will do the best they can to minimize the effect on the employees going forward. According to Bloomberg.com, the Gannett’s revenue fall from $5.44 billion in 2010, from $7.44 billion in 2007.

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Media giant trims hundreds of jobs