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Article: Layoffs rock publishing world.(CIRCULATION)
- Article from:
- DM News
- Article date:
- November 3, 2008
- Author:
CopyrightCOPYRIGHT 2008 Haymarket Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEWSPAPERS AND magazines have taken a huge hit in this economic downturn as the industry continues to wane with new layoffs.
Last week, The Christian Science Monitor; The Los Angeles Times; Gannett Co., publisher of USA Today; Time Inc.; American Express Publishing and Conde Nast Publications announced layoffs due to budget cuts. In addition, other publications will cut frequency and focus more heavily on Web products.
Gannett pointed to the economy and its slumping revenues when it announced that it will cut staff on its local papers by 10% by the first week of December,. Publishing operating revenues for Gannett were down 14.4% in the third quarter, ...