Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• Gannett announces layoffs in its news division, citing a ‘news cost base’ that is too high
• Gannett, the owner of USA TODAY and local news operations in 45 states, announced Thursday another round of job cuts in the company’s news division after a third-quarter loss and an earlier series of cost-cutting measures.
• The company, which plans to cut 6% of its estimated 3,440 staff in the news division, will notify affected employees on Dec. 1 and 2.
• Earlier this month, Gannett announced a third-quarter net loss of $54.1 million as revenues fell. The latest quarterly loss compared with a net income of $14.7 million in the same period a year earlier. Gannett also forecast a total net loss of $60 million to $70 million for the year.

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