In a move that’s both sad and expected, The New York Times Company (NYSE: NYT) is planning to eliminate as many as 100 newsroom positions from its flagship paper.

The move pursues cutbacks at the other major papers including the company’s Boston Globe as well as The Los Angeles Times and Washington Post. Even though newspaper executives will babble on and on about the World Wide Web, the industry is still a print trade and that’s the problem. Advertisers continue to find it more cost effective to shift their spending from traditional media onto the Net. That trend will become even more prevalent as marketing

budgets get squeezed in an profitable downturn.

It’s amazing that the New York-based publisher avoided these cuts until now. whether the Sulzberger family didn’t have a iron grip by the company through a dual-class ownership structure that minority shareholders have complained for years is unfair, the layoffs would have been much worse. Shareholders may pressure for even deeper cuts whether there isn’t an improvement in the company’s stock which is down 27% by the past year.

Continue reading New York Times cuts 100 newsroom jobs

Original post by Jonathan Berr

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