Posted on 09/26/2009 3:08:14 AM PDT by TigerLikesRooster
Times buyout is back
More staff cuts loom
By HOLLY SANDERS WARE and KEITH J. KELLY
Last Updated: 4:12 AM, September 26, 2009
Posted: 1:17 AM, September 26, 2009
More cuts coming.
The job-cut knife is again being brandished at New York Times Co., as the struggling newspaper publisher prepares to launch another round of employee buyouts to further trim costs.
The Times told its biggest union that it is willing to offer buyouts rather than laying off workers because members had "stepped up" to help the paper earlier this year by agreeing to a temporary pay cut proposed by management.
The New York Newspaper Guild said in a memo to members that the Times promised to honor their agreement and end the 5 percent pay cut on Jan. 1. The Times imposed a similar pay cut on non-union workers but didn't say whether it would restore their pay.
(Excerpt) Read more at nypost.com ...
“instituting a four day week.” Gosh, that may mean that the Times will miss all the bad news that the BO regime dumps out on late Friday afternoon.
ping
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