Breaking: New York Times to cut 500 jobs

The NYT announced this afternoon that it will be cutting 500 jobs, or 4% of its work force, to cut costs. This is after they cut/packaged out 200 employees earlier this summer, 20 from the newsroom alone (see earlier post on same).

The projected breakdown:

  • 250 jobs between the Times, Times Online, and International Herald Tribune. 45 will come from the Times‘ newsroom.
  • 160 jobs will be excised from the New England operation, including The Boston Globe, the Worcester Telegram & Gazette and Boston.com. 35 will come from the Boston Globe newsroom.
  • The cuts will roll out over the next six to nine months, beginning next month (NB “next month” is in “ten days”).

    According to the release, the cuts will proceed in “such a way that it continues to provide journalism of the highest quality, to function smoothly on a day-to-day basis and to achieve its long-term strategic goals.”

    I think they used the same press release as last time.

    NY Times Cutting 500 Jobs to Reduce Costs [AP]
    The New York Times Company Announces Staff Reductions [BusinessWire]

    Earlier:
    NYT to cut staff – May 25, 2005 [FishbowlNY]