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Gannett Incorporated is forcing nearly all employees to take one week of unpaid leave this quarter. The furloughs are affecting a broad range of employees from part-time and hourly workers to CEO.
The McLean, Virginia-based company is also asking unions to participate in the furlough in order to combat layoffs, the Business Courier of Cincinnati reports..
Gannett said employee health and life insurance benefits will continue during furloughs, as will vacation time accrual, but 401(k) contributions and company matches will not.
Gannett, along with many other publishers, are facing steep declines in advertising revenue, making layoffs and furloughs necessary.
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