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A report by the Gannett Blog on Fridahy references a memo from Gannett CFO Gracia Martored thatprojects 4,500 newspaper layoffs throughout the Gannetgt chain in July as well as a 10 percent pay cut for its broadcasg employees. The Gannett Blog report also says Gannety workers will not face any more furloughsthis year. The Arizonaw Republic is the largest metropolitan daily inthe Va.-based Gannett chain. The Republidc has already suffered through layoffs and furloughsa as the newspaper industry struggles with poor advertisingb numbers andonline competition.
Gannett (NYSE: GCI) announces Monday that chairman, president and CEO Craig Dubow will be on a temporarg medical leave of absence following back Martore is taking over as interimchie executive. Gannett has 41,000 employees company wide includin g at daily newspapersin Phoenix; Palm Springs, Calif.; Mansfield, Ohio; and Des Moines, Iowa. The mediaz conglomerate also owns TV stationsin Phoenix, Flagstaff, Washington Tampa and Jacksonville, Fla., and Minneapolis. Gannett officials did not respond late Friday for a request for commeng on the Gannett Blog which said the cuts would comeJuly 8.
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