It sure is something to watch CEO Craig Dubow dismantle a 102-year-old company right before our eyes: rendering newspapers at corporate chop shops, while shipping untold jobs to low-wage countries — all in a shaky bid to keep Wall Street at bay.
Only yesterday, Dubow & Co. was at it again: laying off a steep 55 employees at the Asbury Park Press and three other New Jersey dailies — part of a regional group that’s lately appeared on the edge of freefall. And yet, the N.J. papers are only the latest to be swept up in what I imagine is now Gannett’s biggest retrenchment since World War II. (Dubow, to be sure, has been retailing it on Wall Street as the more April-fresh sounding transformation.)
In Phoenix, Arizona Republic workers are weighing a buyout offer that one of my readers says stinks. In Westchester, N.Y.; Pensacola, Fla., and beyond, advertising-production artists are terrified of being the next to lose jobs to Los Angeles-based 2AdPro, which is shipping their work to India as fast as Gannett will allow.
In the Broadcasting division, Gannett is eliminating graphics jobs in favor of consolidating work at a central “art house” in Denver. And the division is now being asked to adopt a version of the Information Center model that was supposed to boost online advertising revenue when it was rolled out across U.S. newspapers last year. (Gannett has been curiously quiet about whether the strategy is working.)
These are only recent examples; I’ve omitted many others that I know — and even more I hope to uncover in any reader responses I get to this post. I’ve been writing about Gannett’s downsizing since Dubow issued that scary Sept. 11 memo last fall. It’s not at all clear whether he’s now putting his pedal on the accelerator, with even more turmoil ahead for this summer. And I’m not expecting any clarity soon on that point. Why? Nowadays, the well-paid top brass don’t have time to deal with even basic questions.
So, if you’re wondering whether Chief Financial Officer Gracia Martore is about to redline your job — well, don’t look for answers from We Work in a Bubble, Va. They’re already on their third round at the Kool-Aid Bar!
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[Image: yesterday’s Republic, Newseum]