The New York Times is cutting around 100 jobs
October 20th, 2009 Leave a comment Visited 179 times, 1 so far today
The New York Times is cutting around 100 jobs
Inside sources reveal that The New York Times is in the process of cutting around 100 jobs in its newsroom.
This comes to around 8% of their total journalism workforce.
The reason behind this job cut is simple… Financial woes. The revenues for newspapers and magazines are falling and online advertising is failing to cover up for it.
The New York Times sent a memo to their employees stating that they would offer voluntary redundancy packages to employees. And if they are unable to get enough responses, they would have to shift to compulsory layoffs.
This could be a sign that they might also shift to paid access to their online service just like the Wall Street Journal.
Job Cuts, media, News, News Media, newspapers, The New York Times, The Wall Street Journal
Sukhdeep Verma
Category: News
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