Breaking: New York Times to cut 500 jobs
The NYT announced this afternoon that it will be cutting 500 jobs, or 4% of its work force, to cut costs. This is after they cut/packaged out 200 employees earlier this summer, 20 from the newsroom alone (see earlier post on same).
The projected breakdown:
According to the release, the cuts will proceed in "such a way that it continues to provide journalism of the highest quality, to function smoothly on a day-to-day basis and to achieve its long-term strategic goals."
I think they used the same press release as last time.
NY Times Cutting 500 Jobs to Reduce Costs [AP]
The New York Times Company Announces Staff Reductions [BusinessWire]
Earlier:
NYT to cut staff - May 25, 2005 [FishbowlNY]
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Amanda Ernst
