Gannett’s Honolulu Advertiser today announced plans to layoff 54 employees, the same day Gannett announced dismal results for its second quarter.

The layoffs were announced in a morning memo to all staff from publisher Lee Webber.

As you know, the newspaper industry faces significant challenges right now. The Advertiser is not immune from them. Advertising revenues were already lagging behind for the media when the downturn in the local and national economies began to materialize. We must cut operating costs to reflect these conditions.

The layoffs come just days after the company presented a contract offer which the Newspaper Guild termed “breathtakingly regressive”.

Weber did not specify whether layoffs would be across the board or targeted in certain departments. How many positions could be cut from the newsroom isn’t yet know, although early indications are that five newsroom jobs could be on the line.

The memo said “employees will be notified by their individual supervisors.”

Rumors of plans for Advertiser layoffs have circulated for several years, part of the active rumor mill following the 2001 termination of the Joint Operating Agreement under which the Advertiser and Star-Bulletin had previously combined their business operations.

The financial numbers released by Gannett today for the month of June were dismal and more dismal, with advertising revenues down across the board.

Classified revenues were down 21.6 percent in the sixth period. Real estate revenues declined 33.9 percent, employment revenues were 25.6 percent lower and automotive revenues were down 13.9 percent.