News Summary
Gannett Co. Inc., parent of the Providence Journal, is offering voluntary buyout packages to employees as the newspaper faces severe financial challenges. With weekday print circulation dropping to 16,000 copies, the company reported declining revenue from $3.21 billion in 2021 to $2.51 billion in 2024. Gannett plans $100 million in cuts and will raise subscription prices to stabilize finances. As media job cuts soar in 2023, the T.F. Green International Airport is set for a $64 million terminal upgrade to enhance passenger facilities.
Rhode Island – Gannett Co. Inc., the parent company of the Providence Journal, has announced the introduction of voluntary buyout packages aimed at its employees as the newspaper grapples with declining circulation and financial difficulties. The Providence Journal’s weekday print circulation has plummeted to just 16,000 copies per day, reflecting broader trends in the media industry that are increasingly affecting traditional print publications.
In a memo from Gannett’s CEO Mike Reed, it was emphasized that the company must adjust to evolving business needs and focus on sustainable growth. Gannett’s financial reports reveal a concerning trend, with annual sales decreasing from $3.21 billion in 2021 to $2.51 billion in 2024, indicating a continual drop in revenue each year. Additionally, the company has announced plans to implement $100 million in expense cuts and will be raising subscription prices in an effort to stabilize its financial standing.
Trisha Gosser, Gannett’s Chief Financial Officer, has mentioned that the company is leaning into the use of AI and automation to enhance operational efficiency during earnings calls. The media industry at large is facing challenges, with significant layoffs reported in several organizations nationwide and even internationally in 2025. Notable media entities, including Ziff Davis, Digital Frontier, Portland Tribune, Chicago Tribune, Los Angeles Times, Forbes, CNN, and MSNBC, are among those undergoing workforce reductions.
The situation is quite dire, with over 21,400 media jobs cut in 2023 alone, marking the most significant number of layoffs in the sector since 2009, not accounting for layoffs that occurred during the 2020 pandemic. These developments underscore a growing concern within the media landscape and the ongoing transition that many companies are facing as they navigate changing consumption patterns and financial pressures.
While these changes unfold in the media space, the Rhode Island T.F. Green International Airport is set to embark on a separate significant project. The airport is planning a $64 million upgrade to its Bruce Sundlun Terminal Building, which aims to modernize and enhance the terminal’s facilities. Improvements will include upgrades to walls, ceilings, seating arrangements, and lighting, with the addition of a new 60-foot-tall water feature to replace the existing information desk.
Previous renovation efforts at the airport have included substantial investments, totaling $9.5 million for bathroom upgrades and $10.5 million for landscaping and welcome signs. The new enhancements to the terminal are designed to accommodate increasing passenger traffic and provide improved seating options in anticipation of future demands.
The project is expected to commence in early spring 2026 and is slated for completion by late 2027. The T.F. Green International Airport has recently received commendations, being recognized as the best airport by Travel + Leisure magazine readers, a nod largely attributed to its affordable parking and efficient TSA security processing times.
In political news, former CVS Health executive Helena Foulkes has declared her candidacy for the 2026 Rhode Island gubernatorial election, challenging the incumbent Gov. Dan McKee. Foulkes, who finished second to McKee in the 2022 primary, has criticized the current administration for not adequately addressing rising living costs in the state. In response, the McKee campaign has accused her of exacerbating the opioid crisis during her tenure at CVS. This political contest is heating up as both sides prepare for the upcoming election cycle.
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Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
