Job cuts at NYT
For now they'll be administrative-type jobs - no journos - but Editor Bill Keller warned in an internal memo that "the newsroom is going to have to do even more to tighten spending, and to help the publisher and the Times Company meet the difficult financial challenges facing our industry. While we are committed to retaining our competitive muscle, we will be facing some tough choices about where to save." A hiring freeze was put in place several weeks ago, "except for those jobs that are critically important to our future ambitions," Keller wrote. Reuters got the memo. The company's shares have fallen by about 30 percent in the past 12 months, and October ad revenue - that’s for the entire NYT Co. - was down 2.4 percent.
3:40 PM Wednesday, November 28 2007 • Link
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