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Ny Times Cutback Update Layoffs Too

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by Jeff Bercovici
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Mar 26 2009 1:05pm EDT

'NY Times' Cutback Update: Layoffs, Too

While most New York Times Co. employees are being forced to accept a 5 percent salary reduction in exchange for 10 extra vacation days, some will be getting a 100 percent pay cut. The Times reports that the austerity measures introduced today will also include 100 layoffs on the newspaper's business side. That's in addition to the 20 jobs in ad sales eliminated last month.

"We thank these dedicated colleagues for all they have contributed to The Times over the years," wrote Times brass in the memo. □

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