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Troubled Gannett Announces Hiring Freeze, Unpaid Holiday Furloughs, Suspension Of 401K Match And Voluntary Severance
The nation’s largest newspaper chain, Gannett, continued its cost cutting measures today, announcing a hiring freeze, a mandatory unpaid five-day leave for every employee this December, a six-month sabbatical, a suspension of 401K matches from the company, voluntary severance offer for those who want to retire or leave the company and an optional four-day workweek.
