BI's Blodget: NYT Needs to Cut Newsroom Costs By at Least Half
Former tech-stock analyst turned Business Insider editor in chief and CEO Henry Blodget today celebrated his company’s third birthday with something of a swan song for New York Times employees.
“Even if the New York Times “transitions” successfully to digital,” Blodget wrote in a long analysis of the newspaper business’ prospects, “its news-gathering costs will likely have to shrink by at least half and probably two thirds. Those who support their families based on a salary from the New York Times Company should probably take note of that.”
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