A major leadership shakeup at Gannett, along with drastic cost-cutting and strategy shifts, underscore just how much pressure the country's largest newspaper company is facing as it tries to appease stockholders and remain independent.
Why it matters: The debt accrued from its merger with GateHouse has forced Gannett to dramatically cut costs and bring its employee count nearly back to what it was prior to the 2019 deal.
By the numbers: As of Dec. 31, Gannett had 11,200 employees, according to a regulatory filing. That's down from 21,255 employees following the 2019 merger with GateHouse and just 562 more than the 10,638 employees Gannett had as a standalone company.
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