One of the leading newspapers in the U.S., the New York Times, announced on Monday that it would have to cut 100 newsroom jobs. It said it was trying to tackle lost advertising revenue and would be cutting jobs through layoffs or buyouts.
Times Executive Editor Bill Keller told employees in a memo that 100 newsroom positions were to be reduced up to the end of this year. The Times had cut salaries by 5 percent earlier this year after it had cut another 100 jobs a little more than a year ago. When pays had been cut earlier this year, it was hoped that more job cuts would not be needed. But the newspaper looks to get through this and move on.
The Times website says that no other newspaper has more than 750 journalists. According to the Times website, the newspaper itself has 1250 journalists, a figure which stood at 1330 earlier. The company has seen a fall in advertising and accumulating debt due to which it has had to cut costs and sell its assets. The Times is likely to announce its quarter results this Thursday.
Similar problems have plagued many other publishers including Garnett Co Inc which publishes USA Today.
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