Gannett to Cut 1,000 Jobs; Stock Price ‘Soars’

It’s another bad day in the newspaper business. Gannett, Co., Inc., publishers of USA Today and numerous other papers across the country, will reportedly let go of 1,000 employees according to a memo obtained by Gannett Blog.

Almost immediately following that revelation, MarketWatch reported that the company’s stock “soared on the news.”