Mar 26, 2009

New York Times orders employee furloughs

Most employees of the New York Times will be forced to take 10 days of unpaid leave as the paper becomes the latest to adopt furloughs as a way to cut costs. For legal reasons, the paper has characterized the furloughs as pay cuts, saying it will cut employee pay by 5 percent over a nine-month period in exchange for the time off.

Additionally, the Times plans to layoff about 100 employees in its business department, trim its freelance budget and merge some sections of the paper to cut down printing costs.

1 comment:

Anonymous said...

look at the top three post items. all about cuts and furloughs etc. newspapers are like the railroad trains after highways were built.... on their way out. run people, run!!