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 - thatís for the entire NYT Co. - was down 2.4 percent.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook