Advertiser laying off 54 workers
Advertiser Staff
The Honolulu Advertiser said it will reduce its payroll by 54 positions, joining the list of newspapers nationwide that have been forced to cut jobs in wake of the weakening economy.
The reductions were announced to the Advertiser staff by Publisher Lee Webber.
"We do not take this action lightly," said Webber. "But we are not immune to the national trends affecting the newspaper industry, nor from the downturn in our local economy."
Webber, in an e-mail to employees, said the company needed to tighten its belt to survive tough times and bring operating costs in line with current conditions. The newspaper remains committed to producing a quality product, he said.
"As the economy improves, we will grow with it," the e-mail read. The cuts include three full-time and one part-time newsroom staffers.
"In the meantime, I know you will remain dedicated to our shared responsibility to continue to produce high-quality journalism for the people of Hawai'i."
The Advertiser is the largest daily newspaper in the state and has been taking steps to reduce costs, including offering early retirements last June. At that time, the company had said it needed to cut at least 30 positions among its 576 full-time workers because of the softening economy and changes in the newspaper business because of the Internet.
Other newspapers nationally have been reducing staff to cope with falling sales, including the Los Angeles Times, San Francisco Chronicle, New York Times, Chicago Tribune and dozens of other newspapers across the country. Locally, other companies have been forced to make cuts, with two Big Island hospitals announcing layoffs of 114 people in the past week.
The Advertiser is part of Gannett Co., a McLean, Va.-based company that is the nation's largest newspaper publisher. Gannett earlier today reported second-quarter net income fell 36 percent as advertising sales from USA Today and its 84 other newspapers retreated from year-earlier levels.
Gannett Chief Executive Officer Craig Dubow told analysts and investors on a conference call today that "the economy is tough and could be for the foreseeable future."
That resulted in Gannett's shares falling to their lowest level since 1990 in trading on the New York Stock Exchange, Bloomberg News reported.
Dubow, while noting the difficult environment for newspapers, said the current situation should not overshadow the progress in transforming the company into a world-class digital business while making enhancements to its newspaper and television operations.
As such Gannett has been building up its Internet business. Locally, the Honolulu Advertiser Web site has been growing and is now the largest online news site in Hawai'i with the most page views and unique visitors.