Gannett layoffs: Relief for newspapers could be years away

Unsplash/Luis Cortes

Aug. 12 was a dark day for many newsrooms across the country, as Gannett Co. Inc. began another massive round of layoffs. 

I'm a former Gannett reporter/editor (Indianapolis Star) who left to teach college journalism in 2008, a couple years after total newspaper revenue peaked at $49 billion. In the most recent (2020) data from Pew Research(1), that number was $9 billion, or a decline of more than 80 percent. A good guess is that the decline will continue at least until 2026 when rising digital revenue stops the bleeding.(2)   

What does this mean for online reporters and editors? As word of Friday's layoffs spread(3,4), we should note that there are many jobs in news and other communications fields. Even newspapers are still hiring, as staffers from the Atlanta Journal-Constitution and other outlets pointed out(4). TV news operations are dying for producers and web editors, jobs where excellent writing skills command big respect.  

But anyone considering a big change--even if they haven't been laid off--should look things over carefully, reach out to trusted networks and think about where communications and jobs are heading.

If you've been laid off, consider this advice from the Harvard Business Review(5): Take a hiatus, Get a handle on where you stand financially, Talk to trusted friends, Surround yourself with positivity, Tend to your well being. Like most advice offered to people in crisis, it's easier to say it than do it. So the rest of us can help by reaching out, listening, and being there for friends feeling this punch.

(1) Newspaper Fact Sheet, Pew Research
https://lnkd.in/gwT9hSyu

(2) U.S. digital newspaper ad revenue expected to surpass print by 2026
https://lnkd.in/gkMqFvxP

(3) Gannett lays off journalists after dismal second quarter results

https://lnkd.in/gETgrFnX

(4) Twitter - Gannett
https://lnkd.in/gJpBeDAc

(5) How to Bounce Back After Getting Laid Off
https://lnkd.in/gmxSRUcq

-30-