Employment News
The New York Times Cuts Jobs, Salaries
By Erik Even | Dated: 03-26-2009
The New York Times has eliminated 100 positions and will cut non-union salaries by as much as 5%.Newspaper revenue has plunged as readers seek more news from the Internet, where advertising sales are less lucrative.
Non-union employees of the New York Times, the Boston Globe, their websites, and corporate offices will have their pay cut 5% and will have 10 additional paid days off.
The Times media group had 9,346 employees in December, including at least 4,000 union employees.
It posted a $30.3 million loss last year, compared with a $248.6 million profit in 2007.
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