Monday, December 3, 2012

Gray Lady Wants 30 Staffers to Accept Voluntary Buyouts

Image representing New York Times as depicted ...
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Plagued by declines in print and digital advertising, The New York Times wants 30 nonunion managers to accept voluntary buyout packages by January 24, 2013, the daily announced today.

The buyout offer, which is unavailable to editorial staffers, according to Executive Editor Jill Abramson, is in response to a near 11 percent drop-off in print advertising among New York Times newspapers, which include the Times, Boston Globe and Worcester Telegram & Gazette, and a 2.2 percent decline in digital advertising, according to the Gray Lady's most recent earnings report.

If the Times doesn't reach its goal of 30 workers accepting severance packages, Abramson indicated that the daily would resort to layoffs.
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