The Newspaper Association Of America has just cut 39 positions, or almost 50% of its staff, and announced it will no longer print physical copies of Presstime.

President and CEO John Sturm (who got creamed by Colbert last month) was direct about it: “Industry economics compelled this round of staff reductions—to ensure we remain an affordable value to our members,” he wrote in a memo.

These guys are supposed to be the ones looking out for us, and now they’re in trouble too? Come on, haven’t we hit bottom yet?