Today, I read this from Reuters:
The New York Times said on Monday it would cut 100 newsroom jobs through buyouts or layoffs as it tries to counter lost advertising revenue.
This is the second time in little more than a year that the Times has sought to reduce its newsroom staff. In 2008, the newspaper cut 100 newsroom jobs.
Earlier this year, it cut salaries by 5 percent.
The newspaper has 1,250 editorial employees, down from 1,330, the Times reported on its website. It said no other U.S. newspaper has more than about 750 journalists.
Bottom line, the giant in our country - and arguably the world - is struggling. I don't think it means ALL newspapers are struggling. Many smaller papers in our country are better equipped to deal with financial difficulties - less competition, less debt within the business, and more loyal local readership. However, when something like this is announced it deserves our attention as an industry.
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2 comments:
I feel badly for the ones that lost their jobs. Luckily, they must be the cream-of-the-crop, so they shouldn't have took much trouble finding a new home. Sad sign of the Times. (pun intended)
Mitch, this brings up another good point. The fact there are now a couple hundred unemployed former NY Times newsroom workers out there doesn't make it any easier for a young journalist to get a job. It's already tough enough....
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