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New York Times to shed 100 jobs

Sharp decline in ad revenue prompts cuts


 

The New York Times will cut 100 jobs before the end of the year. Bill Keller, the editor of the paper, sent out an email to the entire staff informing them that they will all be sent “buyout packages,” allowing them to apply for a voluntary buyout. If 100 people don’t take the buyout before the year is out, then the paper will have to resort to layoffs to eliminate its quota of jobs. The paper, which has more employees than any other newspaper in North America, also cut 100 jobs last year; its executives said earlier that they hoped to get through this year without shedding any staff, but plummeting advertising revenue has forced the organization to make bigger cuts, including a 5% pay cut for employees. Keller wrote in his staff email that “I yearn for the day when we can do our jobs without looking over our shoulders for economic thunderstorms.”

FishbowlNY

The New York Times – Media Decoder


 
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New York Times to shed 100 jobs

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