The New York Times plans 8 percent newsroom staff cuts
Monti Says: I can’t wait until this disgrace of a news service is permanently out of business!
New York Post
October 19, 2009
PAUL THARP
The New York Times today said it was cutting 100 newsroom jobs, as the struggling newspaper continues to make cuts in the face of a declining advertising market.
The round of cuts marks the second time this year that the Times has slashed jobs. In March, the company eliminated 100 positions and imposed a 5 percent pay cut that lasts through the end of the year.
According to a memo distributed to employees by Executive Editor Bill Keller, the company hopes to make all the cuts through voluntary buyouts, though he didn’t rule out involuntary cuts if too few people step up.
The fresh round of cuts come amid signs the ad picture is starting to show some signs of improvement.
USA Today publisher Gannett reported a better than expected results, even though profit sank by more than 50 percent.
Shares in the Times jumped nearly 5 percent to $8.90 as of 3:30 p.m.
Looks like NYT is potentially a very profitable SHORT SELL!
Such fun watching this rusty liberal hulk as it slowly sinks into the abyss. Scuttled by their own highbrow liberal arrogance.
Nobody will buy the Boston Globe, either, and they also can’t unload their interest in the Red Sox.
And they still don’t get it. They think they will get paying subscribers online for their liberal bilge.
Liberal “journalism” is on its last legs, and we can thank Obamessiah that more people than ever are watching Fox News Channel.
Nice work, Big O!!