NY Times Cutting Staff Again
Workers at The New York Times are facing more lost jobs, as the paper of record initiates a new round of staff cuts in a cost savings move.
In a pair of leaked memos written by The Times' executive editor, Jill Abramson, management informs employees of the goal of eliminating thirty more newsroom staffers.
"The economic environment has grown more difficult in the second half of the year and I must reduce costs in the newsroom," Abramson told employees.
I hope the needed savings can be achieved through voluntary buyouts but if not, I will be forced to go to layoffs among the excluded staff. I expect that I will have to reduce the excluded staff by about 30 positions.
The New York Times already cut 100 positions in 2009 and initiated 20 contract buyouts in 2011.
Adweek reports that even as The Times has had continued success with its newest online paywall, its ad revenue is still in free fall.
This isn't just a New York Times problem, of course. The whole newspaper industry is on the verge of collapse.