New York Times Slashes 7.5% of Staff; Digital Platforms Fail
After weeks of rumors, The New York Times announced Wednesday that more than 100 newsroom jobs will be slashed, as “well as a smaller number of positions from its editorial and business operations[.]” If enough people don’t accept buyouts, the ax will fall. According to the Huffington Post, this adds up to a huge 7.5% cut of the overall Times‘ staff.
What has to be especially troubling for the Times is that its new much-hyped digital platforms have failed. According to the paper’s editor Dean Baquet, the NYT Now and NYT Opinion apps are “not achieving the business success we expected.”
NYT Opinion will be killed off.