Cutbacks could effect three South Jersey daily newspapers; six other N.J. papers
Thursday and Friday will be tough days at Gannett, which will lay off about 200 more employees this week, according to a Poynter report. The latest round of cuts follows 400 layoffs over the summer, with an additional 400 vacant positions that will remain unfilled.
It’s not immediately clear how many layoffs will come from Gannett-owned newspapers in New Jersey, if any. Employees of the six Gannett newspapers that have unionized will not be affected by the move, since they are in the process of negotiating a contract.
That puts employees of the Courier-Post, Burlington County Times and Daily Journal in jeopardy. Some reporters at other newspapers could accept a buyout package.
The holiday season layoffs have also left Gannett employees in suspense for the last two weeks.
“While we have taken several steps already, we must enter the new year in a stronger economic position, and the reality is that our news cost base is currently too high for the revenues it generates,” wrote Henry Faure Walker, Gannett’s interim U.S. News president, in a memo to employees sent on November 16. “Regretfully, this means we will be implementing further reductions.”
Five South Jersey journalists lost their jobs in August, including Deborah Marko, who had spent 37 years as a reporter for the Gannett newspapers.
The largest newspaper chain in the nation, Gannett has faced severe financial difficulties in recent years. They reported losses of $107.9 million between April 1 and September 30.
The company’s stock price closed at $2.27 per share on Friday, down from $5.04 one year ago and $18.04 in July 2019.
As a former subscriber of the Daily Times, a newspaper under the umbrella of Gannett, I believe if they reported more real news and less one sided opinions, people would still be buying an actual newspaper. Holding a real newspaper in you hands is a much cherished tradition. I was a subscriber of the daily times for years, then the people in charge decided to improve the news content by eliminating the Salisbury work force and having them printed in philadelphia and trucked to to the shore for distribution. There was very little local news content and they just created more recyclable trash. Needless to say I reduced my recyclable trash like many others have done.