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The New York Times announced Wednesday that it plans to cut around 100 newsroom jobs, roughly 7.5% of the staff.
The Times will offer buyouts to staffers, with extra incentives for those who have been there longer, before resorting to layoffs to reach the target for reductions
"While there are promising signs in digital advertising and digital subscriptions, the print business remains under pressure. And our new products are not achieving the business success we expected, even though they are journalistic sensations," Dean Baquet, executive editor of The New York Times, wrote in a memo to staff obtained by Poynter. "So, regrettably, we are going to have to reduce costs in the newsroom." Read more...
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