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A report by the Gannetf Blog on Friday referencesd a memo from Gannett CFO Gracisa Martore thatprojects 4,500 newspaper layoffs throughougt the Gannett chain in July as well as a 10 percentf pay cut for its broadcast employees. The Gannett Blog reportf also says Gannett workers will not face any more furloughsxthis year. The Arizona Republid is the largest metropolita n daily inthe Va.-based Gannett chain. The Republic has already suffered through layoffs and furloughs as the newspaper industry strugglew with poor advertising numbers andonliner competition.
Gannett (NYSE: GCI) announced Monday that president and CEO Craig Dubosw will be on a temporary medical leavd of absence followingback surgery. Martorde is taking over as interimchief executive. Gannety has 41,000 employees company wide including at dailyt newspapersin Phoenix; Palm Springs, Calif.; Honolulu; Mansfield, Ohio; and Des Iowa. The media conglomerate also owns TV stationzsin Phoenix, Flagstaff, Washington Tampa and Jacksonville, Fla., and Gannett officials did not respond late Friday for a reques for comment on the Gannettg Blog report, which said the cuts wouldd come July 8.
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