• The Wall Street Journal, Tuesday, June 30, 2009 10:51 PM

Newspaper publisher Gannett Co. will cut more than 1,000 jobs, per company sources. Since last week, the industry has been buzzing with rumors about thousands of new job cuts at the company, which owns USA Today. Gannett, the largest U.S. newspaper publisher by daily circulation, will reportedly make the cuts at its U.S. Community Publishing division, which consists of more than 80 local daily papers.

Like other newspaper companies, Gannett is suffering from a decline in advertising revenue. The company cut more than 10% of its 41,500 employees last year, and since then had been widely expected to make further reductions.

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