By: Gannett Co. Inc. on Friday said it was offering buyouts to a total of 160 workers at five of its six newspapers in the state of New Jersey, as advertising revenues decline.
The buyouts were offered to employees over age 55 who have at least 15 years of service with the company, said Judi Dorsey, vice president for human resources at the Asbury Park Press, Gannett's flagship paper in the state.
The 160 employees targeted were asked to respond to the offer by the end of next week. Layoffs are possible if not enough buyouts are accepted, Dorsey said.
Gannett is the country's largest newspaper publisher.
Thomas Donovan, president and publisher of the Asbury Park Press and vice president of Gannett's East Newspaper Group, said economic conditions prompted the move.
He would not discuss whether declining circulation, a continuing problem at most U.S. newspapers, was a factor.
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