The New York Times unveiled plans for job cuts on Wednesday as part of a companywide restructuring intended to safeguard the newspaper’s long-term profitability. About 100 newsroom jobs will be eliminated, in addition to a smaller number of positions from the editorial and business operations. If the Times cannot get enough people to leave voluntarily, they will offer buyouts and resort to layoffs.
“The job losses are necessary to control our costs and to allow us to continue to invest in the digital future of The New York Times, but we know that they will be painful both for the individuals affected and for their colleagues,” the newspaper said.
In addition to job cuts, NYT Opinion, a new mobile app dedicated to opinion content, will be shutting down as it did not attract enough subscribers, said Publisher Arthur Sulzberger Jr. and CEO Mark Thompson.
“I will use this as an opportunity to seriously reconsider some of what we do — from the number of sections we produce to the amount we spend on freelance content,” wrote the Times’s executive editor, Dean Baquet, in a separate note sent to the newsroom staff. The buyout packages being offered have been increased for employees with decades at the company, he added.
Over the last six years, the Times has made cuts to its newsroom staff several times. In 2008, the paper eliminated 100 newsroom jobs, another 100 in 2009 and 30 senior newsroom jobs at the beginning of last year.