The NYT News Room, red stairs going down, down, down and out, just like their revenues.
Posted on 12/16/2016 12:41:07 PM PST by Rockitz
Remember when The NYT reported that its ad hoc campaign to boost revenue by selling subscriptions in response to the vicious back and forth with Donald Trump, was said to be a smashing success? Perhaps it was subscriptions for the crossword puzzle because it appears the monetary success was not smashing enough, and according to a just released note from executives Arthur Sulzberger and Mark Thompson, the newspaper will vacate at least eight floors in its iconic building, allowing it to "generate significant rental income" because it is "frankly, too expensive to occupy this many floors when we don’t truly need them."
Maybe the lesson here is that when the newspaper business model no longer works, one can just pivot into a REIT?
The remaining staff will be consolidated on the remaining, redesigned floors in a "more dynamic, modern and open workplace, one that is better suited to the moment."
Furthermore, the NYT publisher and CEO will lose their corner offices, which they call a "vestige from a different era" and will "introduce more team rooms and common spaces."
It is unclear if NYT would distribute pink slips as part of the cost-cutting effort, however as the letter adds, "in the end, these changes will impact every employee at 620 Eighth Ave. In the near term, we will have to move about 400 employees out of the building to nearby office space while the first phase of work is completed. ... Your manager will notify you if your position is affected by this temporary move. We understand and appreciate the disruption this will inevitably cause and we will do everything in our power to mitigate it."
But aside from all that, subscriptions are soaring, we promise.
(Excerpt) Read more at zerohedge.com ...
What they think of realtor Trump... “Imitation is the sincerest form of flattery “?
Bloomberg has probably offered double rents- from the NYC budget.
Gerald Celente called it years ago: “The toilet paper of record”.
Death by self inflicted wounds.
The Times propaganda rag is a sinking ship without a port in mind. The National Enquirer, once considered a rag, today does far more credible research than the NYT. In fact, it’s doubtful the Times has done any thorough, honest research on any topic in a very, very long time.
The NYT is owned by a Mexican Drug Lord....maybe they’ll open up a drug outlet with the empty space.
Maybe this should be Trump’s last deal for 8 years.
Rent the 8 floors and have them filled them with bull$hit and just let it sit there.
Maybe this should be Trump’s last deal for 8 years?
Rent the 8 floors and have them filled them with bull$hit and just let it sit there.
They previously occupied only floors 2 through 21, so this is a 40% reduction in office space.
Maybe they should rent them to Breitbart, which probably is expanding.
In that buiding, but supposedly they are moving some employees offsite. Sounds like step one to a layoff...
Great ideas!
They are simply going to have raise their productivity and get the same amount of bulls**t out of far fewer floors of people.
> “The remaining staff will be consolidated on the remaining, redesigned floors in a “more dynamic, modern and open workplace, one that is better suited to the moment.”
Red Swingline staplers will be optional (Office Space reference).
Watch them call Trump Inc. to manage the space.
Trump should appeal to DiBlasio to rent out those floors to homeless people at significantly under market rates. I would LMAO.
8 floors
1. Syrians
2. Homeless
3. Somalians
4. MS-13
5. More Homeless
6. Gitmo evacuees
7. BLM
8. ANARCHISTS
Most likely will rent it out for free to NAMBLA.
Down goes NYT! Down goes NYT!
ping
The NYT News Room, red stairs going down, down, down and out, just like their revenues.
Any business renting from these #fakenews hacks will never be pursued by an investigative reporter.
Journalism is dead.
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