In an effort to further revamp the New York Times as a digital-first company, the paper will offer buyouts to newsroom and business department staffers at the end of the month.
“These plans will no doubt lead to new initiatives and investments,” wrote Times publisher Arthur Sulzberger Jr. and executive editor Dean Baquet, in a memo. “At the same time, we will also need to make tough decisions about what to stop doing. Wherever we can reduce costs without damaging the values, and value, of Times journalism, we will do so.”
There was no word on how many buyouts will be offered or whether layoffs will follow if not enough staffers accept the packages. Unfortunately, the odds are that staffing cuts are coming.