Less than two months after protracted contract negotiations came to a close between the New York Times Company (NYSE: NYT) and the Newspaper Guild, the nation’s newspaper of record is looking to make some difficult cuts.
Jill Abramson, executive editor of the Times, sent a letter to the paper’s staff requesting buyouts from 30 non-union newsroom managers, according to Christina Haughney, who posted the news Monday on the Times’ Media Decoder blog. Abramson stressed that the Times’ efforts so far to reduce newsroom expenses were not enough at a time when print advertising revenues continue to dry up at a troubling pace.
Should 30 employees not volunteer, the Times will enact layoffs. Guild members are also being offered the chance to volunteer for the buyouts, but they will not be forced to take them.
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