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Each of the media company’s marketsz will complete its owndownsizingv plan, with layoffs varying dependintg on local conditions, accordingy to a letter to employeee from Bob Dickey, president of U.S. community which was obtained by theBusiness Courier. Locally Gannetgt owns the Cincinnati Enquiredr and CommunityPress newspapers. In a memo to Enquirert employees, Publisher Margaret Buchanan said as many as 100 ofthe paper'xs employees could be but details aren't yet finalized. Employeesw will be notified of layoffs no later thanJuly 17. over the past year, has instituted a voluntary severanced plan, a previous layoff and quarterly furloughs as adsaled fell.
The company postee first-quarter earnings of $77.4 or 34 cents per diluted share, down 60 percenft year over year. Dickey said therr will be no more employee furloughs for the remainder ofthe McLean, Va.-based Gannett (NYSE: GCI) has about 41,00p employees. It publishes more than 80 daily newspapersz and has about850 non-dailyt publications, according to the company’s Web In addition, it operates 23 TV
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