(Update includes revision of layoff projections, photo gallery of media layoffs, and updates of company's stock price.)A range of anonymous sources both on blogs and in the mainstream press are reporting that Gannett ( GCI), publisher of the USA Today, will announce a slew of layoffs after the July 4 holiday. Reported figures are as low as 1,000 people and as high as 4,500. The moves come at a time when the newspaper publishing business has been laid low by the recession -- and a consequent collapse in ad volumes and rates -- and caught by the Internet's inexorable transformation of the news-consuming culture. Print news executives have been
A former editor at USA Today named Jim Hopkins runs a blog that's dedicated to all things Gannett. For some time he has been posting on his web site, which he says he will soon shut down, redirecting traffic to a new site run by others called Gannettoid.com, that layoffs would be coming at the company in early July. His former job appears to have given him deep contacts at Gannett. According to his source, the company is planning on 4,500 cuts. But the Wall Street Journal cites a "personal familiar with the company's thinking" who says the people losing their jobs will number between 1,000 and 2,000. Further, the paper says, the cuts will come at the company's chain of 80 small-town daily newspapers, not at the flagship, hotel-room-distributed USA Today.