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