The New York Times says it plans to cut 100 newsroom jobs in the latest move by the prestigious daily to adapt to industry upheaval.
"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," according to a note to employees cited by the daily on Wednesday.
The note from publisher Arthur Sulzberger and chief executive Mark Thompson also said a mobile app dedicated to opinion content was shutting down because it lacked enough subscribers.
The job cuts represent around 7.5 percent of the newsroom staff of 1330 - which according to the newspaper is a record high.
The Times will be offering buyouts to journalists and will resort to layoffs if it cannot get enough people to leave voluntarily, according to the note.
The daily has been struggling to remain profitable in recent years and has been pushing harder to emphasise digital content as print subscriptions decline.
It has also been selling off "non-core" assets, including the Boston Globe newspaper and websites unrelated to its news operations.
In the most recent quarter, the New York Times Co reported a sharp drop in profits as lower advertising revenues offset gains in digital subscriptions.
Net profit for the second quarter fell to US$9.2 million (NZ$11.8 million) from US$20.1 million in the same period a year ago.
Total revenues fell slightly to US$389 million, with circulation revenues up 1.4 percent and ad revenues down 4.1 percent.
AFP
source: newshub archive
