New York Times to Vacate ‘at Least’ 8 Floors as Profits Tumble – IOTW Report

New York Times to Vacate ‘at Least’ 8 Floors as Profits Tumble

Breitbart: The New York Times is planning to vacate “at least eight floors” in its Manhattan headquarters as part of a plan to cut costs, generate rental income, and redesign office space, according to an internal memo.

In a message to company employees, CEO Mark Thompson said that the company had “made the decision to consolidate our footprint across the building to create a more dynamic, modern and open workplace, one that is better suited to the moment.”

“We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration. We expect a substantial financial benefit as well. All told, we will vacate at least eight floors, allowing us to generate significant rental income,” he continued.

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18 Comments on New York Times to Vacate ‘at Least’ 8 Floors as Profits Tumble

  1. Next up, “New York Times the Musical”.

    Carlos Slim will insist on changing its name to, “Los Tiempos de Nuevo York,” to better serve NYC’s ‘changing demographics’. Soccer and Lucha Libre sells papers!

  2. My dad and I had a good time about ten years ago writing a lifelong NYT subscription cancellation letter. After telling them their paper had turned into a completely biased rag, we offered some helpful advice.

    Start using hypo-allergenic ink.
    Print on a softer grade of paper.
    Perforate the pages into 4-inch squares.

  3. “…We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration…”

    That’s how a progressive says, “we’re laying off staff”.

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