New York Times to Cut 100 Newsroom Jobs

Newspaper forced to reduce journalistic staff by 8%
By Nick McMaster,  Newser Staff
Posted Oct 19, 2009 4:17 PM CDT
FILE - In this June 5, 2008 file photo, the New York Times building is shown in New York.   (AP Photo/Frank Franklin II, File)
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(Newser) – In an effort to continue cutting costs, the New York Times will eliminate 100 jobs from its 1,300-person newsroom. The paper will offer buyouts before instituting layoffs if necessary, executive editor Bill Keller said in an email to his staff. The move comes on the heels of an across-the-board 5% pay cut instituted earlier this year, CNN Money reports. Over the past year, the Times has borrowed money, sold assets, and withheld its dividend to offset declining revenue, the Wall Street Journal reports.