The Wall Street Journal reports that Gannett Company has told all its non-union employees within its US community newspaper unit that they will be required to take a week-long furlough in the first quarter “due to continuing revenue declines in that division”.
Gannett executives said the unpaid time off is in response to revenues that remain short of where they were a year ago.
The WSJ.com adds that president of the company’s community publishing Bob Dickey said in a memo that this was “an option I had hoped we could avoid”.
As Gannett’s US and UK staff at Newsquest prepare to take a week’s unpaid leave, executives at the parent company have been asked to justify bonuses of nearly $2 million in a statement to the Securities and Exchange Commission.
According to the HuffPo report, CEO Craig Dubow will receive $875,000, while four other executives will pocket $300,000, $270,000, $245,000, and $260,000.