Gannett offers early retirement packages to veteran employees

|About: Gannett Co., Inc. (GCI)|By:, SA News Editor

Gannett (GCI +1.3%) is offering early retirement buyouts to its veteran employees 55 or older, according to a memo from CEO Bob Dickey.

The letter says the packages apply to employees who've had 15 years of service. The company will finalize the acceptances after 45 days (Oct. 12).

"The Early Retirement Opportunity Program also provides the company flexibility to reinvest in the key components of our three-year plan and better align our structure to become a next generation media company," Dickey writes in the memo.

Earlier in cost-cutting, broadcast-focused TEGNA (NYSE:TGNA) set a deal to sell its HQ. Gannett also said in a conference call last month that it would get aggressive on large-market M&A.