The New York Times Co. (NYSE: NYT) continues to shrink, and eventually it may have a news staff that simply is not large enough to cover all of the subjects that the paper does now. That will leave management with touch decisions about which coverage can be abandoned and which is more essential. According to the New York Post:
“The economic environment has grown more difficult in the second half of the year and I must reduce costs in the newsroom,” said Editor-in-Chief Jill Abramson in a memo announcing the cuts yesterday.
Abramson said the Newspaper Guild also asked that its newsroom, security and ad-makeup members also be offered a chance to take early retirement packages and the company is extending the offer to them as well.
Shares of the New York Times Co. are inactive in premarket trading but closed up fractionally yesterday at $8.12, in a52-week range of $5.88 to $11.06.
Douglas A. McIntyre
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
