The largest U.S. newspaper publisher, Gannett, will continue its firing spree and let another 10% of its local newspaper staffs go. There is no word yet on how many employees will be cut, and the company has hinted that there will be even more layoffs by the end of the year.

[Yahoo Finance] Gannett: Another 10 pct job cut at local papers

Newspaper publisher Gannett has announced that it will be laying off 100 managers at its newspapers around the country. According to a Gannett officer, firing these guys will apparently:

“[I]mprove communication, streamline processes, accelerate program deployment and, most importantly, improve our marketing efforts.”

Wow! If axing these guys will improve the company that much, Gannett should toss some more officers onto the pyre. Although it’s too bad the 1,000 employees sacrificed last month didn’t make that much of a difference.

Fine print: International Herald Tribune

The Gannett-owned Hawaiian newspaper will be slashing 54 employees from its payroll because of “a weakening economy and loss of advertising to the Internet.”

Source: Editor and Publisher

Gannett, the owner of USA Today, announced today that it would be freezing employee pension plans. Company blowhard Tara Connell said: “Gannett plans to save $90 million because of the freeze”.

The belt-tightening for employees is a bit shocking, considering Gannett is highly profitable. Also surprising for such a frugal company is the fact that Gannett executives frequently appear on lists of the highest paid executives in America. This list, for example, has CEO Craig Dubow compensated nearly $15 million in one year; the former chairman, Douglas McCorkindale, appears as well with nearly $13 million in pay.