New York Times announces job cuts

The New York Times Co has announced that they are cutting around 100 newsroom jobs.

The company is preparing for the weaker economics and is aiming to cut costs to stay competitive.

The newspaper industry is facing massive competition from the internet news segment and declining advertising revenues means that they have to cut costs to remain profitable.

A company representative said that they would remove these positions in the company by not hiring new people for existing jobs, and by offering buyouts and laying off staff if required.

The company had last month reported a fourth-quarter decline in revenue and profit.