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More Layoffs at New York Times – TheStreet.com — Cripes, and these people are the leaders of the pack.
Newspaper publisher New York Times (NYT – Cramer’s Take – Stockpickr) slashed third-quarter earnings guidance and set plans to cut 500 jobs, or 4% of its staff.
The company said the cutbacks will include 45 newsroom jobs at its flagship New York Times newspaper. In May the company set plans for an earlier layoff round that saw it cut almost 200 jobs.
The news came as the company reported disappointing August numbers, saying revenue rose just 0.6% from a year ago. Ad revenue rose 1.7%, but excluding newly acquired information site About.com, ad revenue was down 1% and total revenue was off 1.2%.
That’s what happens when you put ideology and social engineering first.
Good riddance.
Wow, does it really take 13,000 people to make a newspaper like that? I wouldn’t have guessed they had more than 500 employees total, maybe 1000 if you really push it.
Any chance for survial they have requires that they get rid of Pinch. The paper has gone steadily downhill under his direction.
Jeez, 13,000 people and no comics page? And they call themselves a newspaper? I used to get solicitations from the New York Times from time to time back when I had a listed telephone number. I’d ask, “does it have a comics page? No? Well, then why bother?”, click.
The Los Angeles Times is certainly smaller than it used to be, and it has other problems, but at least they remain a full service newspaper.
This can’t happen fast enough. First Obermann and Matthews. Now this! Oh man…..I think I just wet myself!
The chortles of glee will eventually turn to moans of despair at the parched journalistic landscape when these publications go. Then again, there may be new life and new synergies online and in the next generation of e-paper devices. (The romantic aspect is that in the glittering future news will still be read (by some) on paper & ink.)
Dying and yet won’t change their dying ways but expect things to change…
Isn’t that a definition of insanity? 😉
Let’s hope David Brooks, Maureen Dowd and Bill Kristol are among the 500 out. In fact, as long as they keep putting out the Saturday and Sunday crossword, the rest can go too.
It’d be great if the NYT went under. Then local broadcasts as well as the national newscasts and the radio news guys would have to do their own reporting. Right now, they just copy what’s in the Times.
The downfall started when they went on a crusade to have the Masters’ golf club admit women.
News papers are dead. Let’s not make it a long painful death.
I used to work for a news paper agency. Their was a time when all my news came mostly from Chicago Tribune and Sun Times. Now the internet with all its speed has even replaced CNN on TV for me.
It is sad, but it is change.
The same thing is happening also with our hometown one-sided liberal hogwash newspaper. They don’t get it. They could instantly bump circulation by posting conservative commentary for all the people who don’t even bother to look at the editorial page anymore, but might re-subscribe, if there was some semblance of balance.
I was a bright-eyed J-school student at the SPJ conference about 20 years ago (same conference USA TODAY launched)when keynoter Andy Rooney told us that journalism was dead. He implored us to change our majors when we got back to campus.
But really, all I had to do was look at USA TODAY (McPaper) to figure that out. It didn’t look good then. Looks worse now.
# 1 dusan maletic said “That’s what happens when you put ideology and social engineering first.”
Fox news, talk radio, the blogosphere? It works, it’s the medium that’s dead.
You mean the 3 front cover stories on the same day about Palin’s pregnant daughter didn’t help their circulation? What’s a trash newspaper supposed to do nowadays?
If they sold an epaper version, with some annual subscription model. Then they’d get back of their lost subscribers. Continuing to use paper as the sole means of channeling a tiny amount of news, and a huge amount of advertising, is ridiculous. How many trees must die to sell stuff we don’t want or can’t afford? Today’s reads prefer web news, because they can follow a story from beginning to end. Without hunting for the remainder of the article, buried in the ad pages. When they figure out how to do that to web pages, we’ll be thoroughly screwed. And you can get they’re working on it, rather than giving it up. The layoffs probably are no worse then what happened in prior years. When office PCes replaced typesetters’ and copy boys’ jobs. Not to mention all those paper delivery boys’ jobs that vanished years ago.
#5 – Dave W
>>I’d ask, “does it have a comics page? No?
>>Well, then why bother?”, click.
Other than Dilbert, and maybe Doonesbury, what comics are worth reading? They all stink nowadays.
I”m amazed that it takes more than 12000 people to put out a newspaper. No wonder they aren’t making any money.
Um, did anybody notice that the article is published in 2005?