NY Post

New York Times Offers More Buyouts As It Cuts Staff Again

May 26, 2016  •  Post A Comment

After New York Times Executive Editor Dean Baquet said last week that the paper would have no more layoffs in 2016, The Times is reportedly offering buyouts to employees in the newsroom and business office.

The New York Post reports that The Times sent a memo to staffers Wednesday that appeared to “waffle” on Baquet’s pledge.

The report quotes the memo, signed by Baquet, Publisher Arthur Sulzberger Jr., CEO Mark Thompson and Editorial Page Editor James Bennett, saying: “While we are not announcing layoffs today, our need to reduce costs means that we cannot rule them out in the future.”

The Post adds: “The buyout offer will go out to the 1,100 employees covered by the News Guild of New York, which includes about 850 newsroom employees and business, advertising and security personnel. The offer will be three weeks’ pay for each year of service up to a maximum of 104 weeks. Management employees will also be offered the buyouts.”

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