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Gannett Co. Inc., the largest U.S. newspaper publisher and parent company of USA Today and over 200 other publications, including The Arizona Republic, The Detroit Free Press, and The Indianapolis Star, is offering voluntary buyout packages to employees.
In a Thursday memo to staff, obtained by Deadline Detroit, CEO Mike Reed stated, “Given our static revenue trends, we need to adjust our organization to meet current business needs and ensure sustainable growth, leveraging AI and automation for efficiencies.”
Reed noted that the voluntary severance package aims to reduce costs while pursuing revenue growth.
Eligible employees must accept the offer by July 30 and work through September 5. Gannett did not immediately provide details on the buyout terms to TheWrap.
The company’s workforce has already shrunk significantly, with 8,900 employees at the end of 2024, an 11% decrease from the previous year and a 20% drop from 2022. Chief Communications Officer Lark-Marie Antón reinforced Reed’s focus on innovation, stating, “As Gannett pursues revenue growth, we’re making strategic decisions to embrace automation and adapt our cost structure. This voluntary severance provides flexibility to drive improvement while valuing our employees.”