Mike Reed Sets Goals for New Gannett

I actually think the attempt at transparency is very, very minimally to the company’s credit. It’s a small step, but it’s a step.

 

As to possible future layoffs, keep your eyes on the amount of Black Friday circulars inserted into GCI newspapers next week. Few circulars means less revenue and that bodes ill for newsrooms.

 

I have messaged all my friends and former co- workers still at Gannett and afraid to jump and tell you all here: there is light on the other side. Get out. Do it now. Please.

 

It is always dangerous to offer personal advice. But as an accountant who has looked at the financial statements of Gannett I think there is more to fear by staying. Revenues have been collapsing.

I also think the company is getting to the point where more papers are going to be closed. The labor market is still good. If your personal circumstances make it necessary to receive a steady paycheck find a landing spot ASAP.

 

Have just heard Gannett is selling some of its smaller North Carolina dailies to Paxton.

 

I bet that’s what factored into these upcoming layoffs. You book that stuff relatively far out.

At this point it might be best to just say the ship is sinking, local news isn’t financially stable, and you’re going to lose this product before long. Just be honest. There’s no future there.

 

Based on how poorly Paxton is run, that might be a case of from bad to worse. Hard to imagine for some, but not joking.

 

If the story is true and Paxson buys the papers I would advise employees to take a sack lunch their first day of the new ownership. Paxson is the company that bought the Durham paper and then on the first day of their ownership moved in security guards at noon and fired staffers returning from lunch who management perceived were making to much money.

 

If anyone still gets the hard copy of a Gannett paper it would be interesting (at least to me though I am admittedly weird) the number of circulars in tomorrow's paper and the number on Black Friday, Back in the day the Black Friday paper was the largest of the year becasue it was stuffed with holiday ads,

 

Yes. The infamous Monday Massacre.

 

That's their MO. And it has happened in places other than Durham. They bought my hometown paper, and destroyed most of what was left of it.

 

CherryRoad passed?