The worst vacation ever
It’s just like vacation — except that you don’t get paid and really don’t have any choice in the matter and will likely spend the days worrying this could be a hint of (bad) things to come.
Some staffers at Gannett Co, the largest U.S. newspaper publisher, will be forced to take a week off without pay in its latest move to cut costs. Already, it has cut thousands of jobs, says this furlough will help it avoid more layoffs.
Here’s what Reuters reported:
“This means that most of our U.S. employees — including myself and all other top executives — will be furloughed for the equivalent of one week in the first quarter,” Dubow wrote.
Gannett, which publishes USA Today, the largest U.S. newspaper by circulation, is instituting the furlough after cutting thousands of employees from its payroll to deal with a severe decline in advertising revenue.
“We have made some very difficult decisions this past year, all with the goal of keeping Gannett strong and preparing for the future,” Dubow wrote. “I understand I have asked a great deal of you, and I regret adding to your burden with this program.”
With so many companies firing workers, perhaps staffers at Gannett should feel some sense of relief. But, frankly, it’s hard to feel anything but dread in the newspaper business these days.
Keep an eye on:
- “American Idol” launched its latest run with 10 percent fewer viewers than watched last year’s season opener, ratings showed on Wednesday, despite hoopla surrounding a new judge for the hit talent contest (Reuters)
- Investors fear a change at the top of Apple will chill a product line-up struggling to come up with the next big thing (Reuters)
- AOL will rebrand its long-running sports channel as FanHouse, which is the current name of a blog/community-centric section within AOL Sports (AdWeek)