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May 9, 2008 - 6:36pm
Tough times at Gannett
By Matt Friedman
Category: LocalTags: Gannett Co. Inc.
Gannett New Jersey is significantly scaling back its work force by offering voluntary buyouts to employees in order to cope with declining advertising revenues.
According to an article published on Gannett newspaper Web sites, the buyouts will be offered offered to 166 employees over the age of 55 who have worked there for at least 15 years. The company is making the offer at five of the company’s six New Jersey papers: The Asbury Park Press, Courier-Post, Home News Tribune, Courier News and Daily Journal.
If not enough employees accept the buyout, the company will resort to layoffs, said Asbury Park Press President and Publisher Thomas M. Donovan, who’s vice president of Gannett’s East Newspaper Group.
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