Posted on 10/13/2011 10:53:30 AM PDT by Second Amendment First
In a sign of just how bad the advertising climate is once again turning for newspapers, the New York Times announced this morning that it is planning up to 20 buyouts, the first significant reduction in staff since the dark days of 2009.
Brian Stelter reports:
The reductions, described by the New York Times Company as a rebalancing, were announced to employees on Thursday morning. The company will seek volunteers for buyouts in The Times newsroom, Jill Abramson, the paper’s executive editor, said in a memo to the staff, adding that no newsroom employee would be laid off. She said there would be “fewer than 20” buyouts.
The Times will also seek to cut costs on the business side by eliminating positions that are vacant and offering a limited amount of buyouts, said an executive who insisted on anonymity because the company was not commenting publicly on the details or scale of the reductions.
Analysts are likely to link the cuts to The Times Company’s third quarter earnings, which will be reported on Oct. 20 and which are expected to be relatively weak. Late last month, the company’s chief executive, Janet Robinson, told analysts that “economic conditions have been getting more difficult since the second quarter.”
I hope her uterus falls out.
5.56mm
Kind of like rebalancing the Titanic.
Hmmm, you publish lies, people stop trusting you, then they stop buying you, then you have layoffs and eventually go out of business. Sound business plan only a liberal could love.
How much does this CEO make and is she or any others in the upper management taking a cut in pay?
How much does this CEO make and is she or any others in the upper management taking a cut in pay?
Maybe we could raise enough money here at FR, buy the Times, & turn it into a real newspaper?
I will donate the first quarter. Another 100 quarters should be all it is worth.
“In a sign of just how bad the advertising climate is once again turning for newspapers,...”
Speaking of climate I’m surprised the NYT has the nerve to stay in business seeing how newspapers are responsible for deforestation, the dumping of tons of toxic chemicals needed to make paper, the tons of CO2 needed to deliver them, and the landfills they fill with a product that is instantly useless and must be replaced daily. They have alot of nerve lecturing anyone about environmetal issues. The NYT going out of business would be the best thing for everyone.
http://www.cbsnews.com/stories/2011/10/13/ap/business/main20120095.shtml?tag=re1.latest
and the decline continutes . . . wish one of those 20 was Rich or another prominent commie there.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.