May 31 The New York Times Co said on
Wednesday it offered buyouts to some of its newsroom employees,
as it looks to streamline its editing and production systems and
reduce the number of editors.
"If we do not get enough takers to fund our ambitious plans
to reduce the editing staff and hire more reporters, we will
unfortunately have to turn to layoffs," the company said in a
memo to employees. (bit.ly/2qAZw9W)
The newspaper publisher said it expects to take a charge of
$17 million-$23 million related to the workforce reductions,
with about $17 million to be recorded in the second quarter.
The New York Times reported on Wednesday it would eliminate
the position of public editor. Liz Spayd, the current public
editor, will leave the paper on Friday, the report said. (nyti.ms/2rbg6vy)
(Reporting by Narottam Medhora in Bengaluru; Editing by Sai