New York Times Looking to Reduce Newsroom Staff
The newspaper has offered staffers voluntary buyouts.
The New York Times announced that it’s looking to eliminate as many as 20 positions in its newsroom. Its first course of action is to offer voluntary buyouts to its staffers. Additionally, the company is seeking savings in its business units.
“This is part of our continuing efforts to rebalance our business and news operations and strategically invest in hiring to support new digital initiatives and expand our presence around the world,” company spokesperson, Eileen Murphy, says.
The company sent a memo to staffers from the paper’s executive editor, Jill Abramson, seeking volunteers for “fewer than 20” buyouts of their contract. According to the memo, “No matter how many people do or do not raise their hands, no one in the newsroom – either Guild or excluded – will be laid off as a result of this program.”
The buyout offer for nonunion workers basically comes out to two weeks of pay for each year served, which will be capped at one-year in salary. For union workers, it comes out to three weeks of pay for each year served, which will be capped two years worth in salary.
According to the Wall Street Journal, the company plans to gain savings in the business units mostly by eliminating open positions.
This is the first mass staff reduction for the paper since 2009 when 100 newsroom employees were eliminated with a mix of voluntary buyouts and lay offs.