Gannett posts third-quarter loss amid cost-cutting, layoffs!
Gannett, the proprietor of USA TODAY and native data operations in 45 states, posted a third-quarter loss nevertheless acknowledged cost-cutting measures are enhancing its funds, a sample it expects to proceed into 2023.
The media agency reported a web lack of $54.1 million inside the three months ending Sept. 30, in distinction with web earnings of $14.7 million within the similar interval a 12 months earlier. The company expects an entire web lack of $60 million to $70 million this 12 months, an outlook it had forecast beforehand.
Gannett “continues to answer decisively to the persevering with macroeconomic volatility and inflationary pressures,” CEO and Chairman Michael Reed acknowledged in a launch.
The latest outcomes come after a “troublesome” second quarter, which was adopt...