Yahoo Finance USA Today cuts jobs amid print woes
USA Today said Thursday it was eliminating 60 to 70 jobs as the large daily responds to declining print circulation and ad revenues.
The newspaper's move is meant "to align its staffing levels to meet current market conditions," according to a statement by parent firm Gannett cited by the publication.
The cuts will also allow the firm "to reinvest in the business to ensure the continued success of its digital transformation," the statement said.
The news comes a month after Gannett announced plans to split into two separate firms, one for broadcast and digital, and the other for newspapers.
Gannett is the latest media conglomerate to spin off struggling print news operations from faster-growth operations such as television.
Gannett will create a new publicly traded broadcasting and digital company, which has yet to be named, and which will remain headquartered in McLean, Virginia.
The publishing group, which will retain the Gannett name, will include USA Today as well as 81 other daily newspapers, some 200 weeklies and magazines and the community news service Newsquest.
USA Today is among the largest US dailies. In a recent industry audit, it had an average daily print circulation of around 1.8 million and digital readership of more than 1.4 million.
