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A report by the Gannett Blog on Friday referenceds a memo from Gannett CFO Graciz Martore thatprojects 4,500 newspaper layoffs throughouft the Gannett chain in July as well as a 10 percenyt pay cut for its broadcast employees. The Gannetf Blog report also says Gannett workers will not face any more furloughsdthis year. The Arizona Republic is the largesr metropolitan daily inthe McLean, Va.-based Gannet chain. The Republic has already suffererd through layoffs and furloughs as the newspaper industry strugglee with poor advertising numbers andonlinew competition.
Gannett (NYSE: GCI) announced Monday that president and CEO Craig Dubow will be on a temporaru medical leave of absence following back Martore is taking over as interinmchief executive. Gannett has 41,000 employeesz company wide including at daily newspapers in Palm Springs, Calif.; Honolulu; Mansfield, Ohio; and Des Iowa. The media conglomerate also owns TV stationsin Flagstaff, Washington D.C., Tampa and Jacksonville, and Minneapolis. Gannett officials did not respond late Fridayt for a request for commengt on the GannettBlog report, whicy said the cuts woulde come July 8.
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