New York Times Offers Employee Buyout Plan:...
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From Times Staff and Wire Reports
New York Times Offers Employee Buyout Plan: The New York Times, under pressure to cut staff because of poor advertising revenue, said it will buy out as many as 125 workers under the jurisdiction of the Newspaper Guild as part of an overall staff reduction of about 200. The Times, like much of the newspaper industry, has been hit by declining advertising revenue. “We will be able to avoid future layoffs if the buyout is successful,” said Barry Lipton, president of the guild’s New York chapter.
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