New York Times cuts 530 distribution jobs
NEW YORK - The New York Times Company is to cut 530 jobs and take a charge of up to $53m as it closes its City & Suburban distribution unit.
Closing the unit, which distributes the New York Times newspaper in the New York City area, will save the media firm about $30m a year.
The move is part of an effort to reduce the company's $1bn debt and it follows the slashing of its dividend payment by nearly 75%.
ADVERTISEMENT
Reuters also reported that the New York Times Co might sell parts of the company to stave off the worst affects of the ensuing financial crisis.
New York Times: job cuts
Tags
Jobs
- MARKETING MANAGER : Luxury Travel Company, Dylan*
- , Central London
- INTERNAL COMMUNICATIONS MANAGER, Dylan*
- GOOD BENEFITS, Central London
- Digital Content Manager, Sage UK Limited
- , North East England
- Account Manager, Livewire PR
- £27-33K, West London
Comments