NY Times Co. Slashes Retirement Benefits

Not a Portfolio.com Insider?

In This Issue of Condé Nast Portfolio

Home > Views > Blogs > Mixed Media > NY Times Co. Slashes Retirement Benefits

Your Name

Your Email Address *
Send a copy to me

Recipient's Email Address *

Separate multiple email addresses (max 20) with commas.

Subject *

Message

0/1500

Email Confirmation

Mixed Media

by Jeff Bercovici

Main

Time Inc. Names Matters New 'Money' ... Late Breaks: Ann Coulter, Objective ...

Nov 7 2008 3:30PM EST

If you're thinking about retiring from your job at The New York Times Co., you should probably do it soon.

Tucked inside its latest 10-Q are the Times Co.'s plans to shave tens of millions of dollars from its budget by hacking away at pension and medical benefits for non-union employees. Those who retire on or after March 1, 2009, will no longer receive medical coverage after they turn 65, when they become eligible for Medicare. The Times Co. also said it has decreased the formula for pension benefits; that change will affect only those who are active non-union employees as of Jan. 1, 2009.

The changes, adopted Oct. 22, will yield estimated savings of $24 million in 2009.

See more in

Newspapers

Add Your Comment

Already a Portfolio.com Insider? Sign In

Comments*

Thank you for registering as a Portfolio.com Insider. Your comment has been added.

Create Your Public Profile

Recent Blog Posts

Conde Nast Closing 'Portfolio'
Apr 27 2009 10:02AM EDT
Newspaper Circ: 'WSJ' Gains as 'NY Post' Tumbles
Apr 27 2009 9:32AM EDT
Idle Chatter: The Prognosis for Newspapers, more
Apr 27 2009 8:55AM EDT
Late Breaks: MySpace, NYT, 'New York'
Apr 24 2009 4:01PM EDT
Nostalgia, Entitlement and Murdoch's 'Journal'
Apr 24 2009 4:00PM EDT
Huffpo's Lerer on the 'New and Better' Journalism
Apr 24 2009 12:44PM EDT
Ailes Heats Up Cold Spring with Newspaper War
Apr 24 2009 12:33PM EDT
Happy Friday. Now Watch This.
Apr 24 2009 10:24AM EDT
Idle Chatter: NPR Cutbacks, Jon Meacham, more
Apr 24 2009 8:50AM EDT
Late Breaks: Twitter and the 'Times,' more
Apr 23 2009 5:59PM EDT
CNN Partner's Polling Finds CNN Fair, Balanced
Apr 23 2009 4:10PM EDT
'Scientific American' Editor Out in Reorg
Apr 23 2009 3:19PM EDT
Idle Chatter: MySpace, Nerve, 'Millionaire,' more
Apr 23 2009 8:20AM EDT
Late Breaks: 'Observer' Editor Resigns, more
Apr 22 2009 4:15PM EDT
One Marriage, One Memoir, Two Opinions
Apr 22 2009 2:31PM EDT

Links

Also in Portfolio.com

Visit our partner sites

Subscribe to a magazine:

Visit our sister sites:

Quotes delayed 15 minutes for NASDAQ. 20 minutes for NYSE and AMEX. Market Data provided by Interactive Data. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. Company fundamental data provided by Hemscott. Economic data provided by Econoday. News provided by Comtex. Sec Filings data provided by Edgars. The Wall Street Horizon National Consumer Interest Rate Survey. ©2009 Wall Street Horizon. PMMS Mortgage Data ©2009 Freddie Mac. Mortgage averages are for conforming mortgages with 20% down.