NY Times to Vacate Multiple Floors in Headquarters

Leaner and meaner.

The New York Times is vacating “at least eight floors” in its headquarters in a cost-cutting/money-adding move.

“The current way we have configured our office makes us slower and less collaborative. It is also, frankly, too expensive to occupy this many floors when we don’t truly need them,” wrote Times publisher Arthur Sulzberger and Times president and CEO Mark Thompson in a note obtained by Politico. “…We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration. We expect a substantial financial benefit as well. All told, we will vacate at least eight floors, allowing us to generate significant rental income.”

Sulzberger and Thompson also pointed out that their large offices will be eliminated as part of this process.