Karmic Justice at The New York Times.

It’s a good thing that they voted for Barack Hussein Obama, so they can keep their unemployment insurance!

New York Times Seeks Buyouts From 30 in Newsroom

By CHRISTINE HAUGHNEY

Aiming to cut costs in an increasingly troubled advertising environment, The New York Times announced on Monday morning that it would offer buyout packages to newsroom employees. While the primary goal of the buyout program is to trim managers and other nonunion employees from its books, the company is offering employees represented by the Newspaper Guild the chance to volunteer for buyout packages as well.

In a letter to the staff, Jill Abramson, executive editor of The Times, said she was seeking 30 managers who are not union members to accept buyout packages. She stressed that the paper had been reducing as many newsroom expenses as possible, like leases on foreign and national bureaus. But the hiring The Times has done in recent years to help make it more competitive online has restored the newsroom to the same size it was in 2003 — about 1,150 people.

“There is no getting around the hard news that the size of the newsroom staff must be reduced,” Ms. Abramson said in the letter.

Employees have until Jan. 24 to accept a severance package. Ms. Abramson pointed out in her note that the business side had cut its staff by more than 60 percent in recent years. The company recently announced that it was offering buyouts to 30 employees in the advertising department. The newsroom had its most extensive cuts in 2008 when it eliminated 100 jobs through buyouts and layoffs. Ms. Abramson urged employees to consider “whether accepting a voluntary severance package at this time in your life makes sense.”

More at the link, including the notification that if an insufficient number of employees accept the buyout offer, straight layoffs will be made.

The Huffington Post obtained a copy of Mr Sulzberger’s memo to employees:

Dear Colleagues,

As we all know, these are financially challenging times. While our digital subscription plan has been successful, the advertising climate remains volatile and we don’t see this changing in the near future. Given this, I have asked Scott, Jill and Andy to identify significant cost savings — including buyouts — throughout The New York Times Media Group.

While we will continue to invest where needed to ensure our role as a global leader in news and information, we must make some difficult decisions to lower our costs. Our business-side colleagues will continue their efforts to find staff reductions and other efficiencies, but it is now impossible not to look also within the ranks of our news operations.

None of this is easy in these difficult times. Thank you all for your courage, your talent and your commitment to fulfilling our mission. You will be hearing more from your managers.

Sincerely,
Arthur

The Times endorsed President Obama for re-election, telling us what a great job he had done with the economy and how he was helping business.

I guess that they meant some other kinds of businesses.

2 Comments

  1. The Wall Street Journal seems to be doing quite well. And they were the first newspaper of note to charge for their online content. And it works for them, for they have a product people are willing to pay for. The NY Times, in contrast, has let their left wing ideology so pollute their pages that that paper is suitable for little more than lining cockatoo cages. Which makes their online product equally worthless.

  2. Noting Eric’s comment, I should point out that I am a digital subscriber to THE WALL STREET JOURNAL. The JOURNAL has an emphasis found few other places (INVESTOR’S BUSINESS DAILY would be one other place), and journalists who actually understand business and economics, and that’s why their content has value for which people will pay. I pay for that subscription to enhance this site, as well as for my personal use.

    The New York Times allows people, as tracked by their IP addresses, ten free articles a month (the front page is always free; it contains only teasers); if I fully utilize my computers at home and at work, I would have access to 20 articles, and I suppose I could up that to 30 with my Tablet. I rarely hit my ten free articles, though I did on my work computer in November.

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