The New York Times Company budget plans announced Thursday, including a temporary 5 percent pay cut for most employees, should avert newsroom staff cuts at the flagship Times newspaper this year, the executive editor, Bill Keller, said.
Bill Keller, the executive editor of The New York Times, announced a temporary 5 percent pay cut and furloughs for most employees in a meeting with the news staff Thursday afternoon.
The cuts were mandated for management and nonunion employees, and the Newspaper Guild has been asked to agree to them for those it represents on the newsroom staff. If the union does not agree, Mr. Keller said during a meeting of hundreds of staff members in the paper’s main newsroom, “we will face layoffs, probably on the order of 60 to 70 people,” out of almost 1,300 on the news staff.
Also on Thursday, The Times laid off 100 people in its business operations, and Mr. Keller said it would make other cuts, like reducing spending on freelancers by 10 to 15 percent and possibly consolidating some sections.
The planned 5 percent pay cut for nine months, coupled with an additional 10 days of leave, would apply to most employees at the largest units, including The Times and the corporate offices, and to most nonunion employees at The Boston Globe.
Across the company, advertising revenue fell 13.1 percent in 2008, and 17.6 percent in the fourth quarter. Executives declined to provide any 2009 figures, but said that so far the year has been worse than expected.
I think a bus tour of overpaid Times executive homes is in order.
Here's Sulzberger's NY City residence:
And here's his Long Island estate:
If you want a closer look at how this champion of the little guy lives, go to Google maps and enter 283 Gin Ln Southampton, NY and get an eyeful of how the people who controlled the political dialog in the country lived. The Sun King?
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