Posted on 03/28/2009 6:28:18 AM PDT by moneyrunner
Bringing a smile to all of our faces:
The New York Times Company budget plans announced Thursday, including a temporary 5 percent pay cut for most employees, should avert newsroom staff cuts at the flagship Times newspaper this year, the executive editor, Bill Keller, said.
Bill Keller, the executive editor of The New York Times, announced a temporary 5 percent pay cut and furloughs for most employees in a meeting with the news staff Thursday afternoon.
The cuts were mandated for management and nonunion employees, and the Newspaper Guild has been asked to agree to them for those it represents on the newsroom staff. If the union does not agree, Mr. Keller said during a meeting of hundreds of staff members in the paper’s main newsroom, “we will face layoffs, probably on the order of 60 to 70 people,” out of almost 1,300 on the news staff.
Also on Thursday, The Times laid off 100 people in its business operations, and Mr. Keller said it would make other cuts, like reducing spending on freelancers by 10 to 15 percent and possibly consolidating some sections.
The planned 5 percent pay cut for nine months, coupled with an additional 10 days of leave, would apply to most employees at the largest units, including The Times and the corporate offices, and to most nonunion employees at The Boston Globe.
Across the company, advertising revenue fell 13.1 percent in 2008, and 17.6 percent in the fourth quarter. Executives declined to provide any 2009 figures, but said that so far the year has been worse than expected.
I think a bus tour of overpaid Times executive homes is in order.
Click on the link for pictures of "Pinch" Sulzberger's homes.
(Excerpt) Read more at moneyrunner.blogspot.com ...
Another “hip hip hooray” for Old Pinch for successfully running the old gray bag lady into the dirt ... helluva job.
Fortunately, the federal government is here to help when hard working Americans lose their jobs through no fault of their own. I imagine the NYT will become the New York branch of Obama's Ministry of Truth, using our tax dollars to save these jobs and print all the news that fits liberal preconceptions. After all, you can't have "freedom of the press" if the press isn't free to print what they want without repercussions from readers.
Cuts and layoffs for unionites?? But the Times LOVES unions!! However can this be??
more like "news fabricating and twisting"...
Do I hear the band playing “Nearer My God to Thee?”
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