New York Times Offers Buyouts in Effort to Shrink Newsroom
In a letter to the staff, Times executive editor Jill Abramson announced she is "seeking 30 managers who are not union members to accept buyout packages."
"There is no getting around the hard news that the size of the newsroom staff must be reduced," Abramson says in the letter, according to the article published this morning.
The paper cites a "volatile" advertising climate as the reason for the need to trim the newsroom, and notes that the New York Times Company's ad revenue shrank by 10.9 percent, according to the latest earnings report.
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