'Black Tuesday' Continues: 'NYT' Cutting 500 Jobs

Editor and Publisher ^ | 09/20/05 | E&P Staff

[Pikamax]

'Black Tuesday' Continues: 'NYT' Cutting 500 Jobs

By E&P Staff

Published: September 20, 2005 4:37 PM ET

NEW YORK The New York Times Company announced a staggering staff reduction plan Tuesday that will likely mean some 500 job loses at the company's many properties, including an expected 45 newsroom positions at The New York Times newspaper and 35 at The Boston Globe.

In a press release distributed Tuesday afternoon, the company said it "plans to begin the staff reductions in October and implement them over the course of the next six to nine months.

The news followed an announcement earlier in the day from Philadelphia Newspapers Inc., owner of the Philadelphia Daily News and the Philadelphia Inquirer, would seek to cut 100 jobs through buyouts.

The New York Times Company added that about 250 positions at The New York Times Media Group will be affected, including approximately 45 newsroom positions at The Times newspaper. At The New England Media Group, some 160 positions, including those at the Globe, will be lost. The Company's regional newspapers, broadcast outlets, and corporate staff will also be affected, the release said, but did not offer specifics.

"This represents a continuation of the initiatives the Company began earlier this year to find ways to operate more efficiently," a statement with the release said. "As a result of these efforts, the Company identified areas where it could function effectively with fewer people. Earlier this year the Company reduced its staff by approximately 200 positions, or about 2%.

The Company also stated it "plans to manage the staff reductions in such a way that it continues to provide journalism of the highest quality, to function smoothly on a day-to-day basis and to achieve its long-term strategic goals."

[ashtanga]

I canceled my subscription, and my paper is "conservative." The CEO and board of directors may be that, but the journalists are birkenstockers. So long!