From Media Life:
Jun 22, 2011
The recession is nominally over, but you wouldn't guess it from the news coming out of print media the past few weeks.
Another magazine, ReadyMade, shut down, putting 75 out of work, newspaper ad revenue hit a 28-year low, and now a major publisher is instituting yet more mass layoffs, citing lagging advertising as the reason.
Gannett confirmed yesterday that it is laying off 700 employees, representing roughly 2 percent of its workforce.
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