Gannett has offered buyouts to employees at most of its New Jersey newspapers, another move meant to deal with declining ad revenues.
Published reports say the buyout target is 166 full-time positions, and layoffs are possible if Gannett does not reach its target. To be eligible, employees must be 55 years or older and have worked for the company for at least 15 years. Gannett isn’t saying anything yet about buyouts in other states.
The company is but one of many newspaper companies taking these sorts of steps, but some of those companies actually publish real news and don’t see 30-percent profit margins as realistic.