NEW YORK – The New York Times Co. says it is cutting about 100 newsroom jobs through buyouts and layoffs in an effort to trim costs and focus more on its digital efforts.
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That's about 7.5 percent of a current total newsroom staff of 1,330. Jobs in other divisions will be cut too. The company says buyouts will be offered to an undisclosed number of senior managers in the print, digital and advertising divisions.
Like other newspapers, The New York Times is facing declining print advertising revenue as consumers opt for digital content and advertisers shift more of their spending online. Over the past eight years, overall annual print newspaper ad revenue has fallen 64 percent, to $17.3 billion in 2013, according to the Newspaper Association of America.