- Apr 1, 2011
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The legacy media is circling the drain. It couldn't happen to a more deserving industry:
Peddling fake news does not, in fact, equate to a long-term successful business strategy, reporters for The New York Times are learning the hard way.
The Gray Lady, which many in the media class consider the pinnacle of the information business, is struggling so much financially that reporters are expected to be laid off from the publication, along with many editors, the New York Post reports.
“Reporters at the New York Times could soon be ‘vulnerable’ to the ax,” the Post’s Keith Kelly wrote. “If the ongoing round of voluntary buyouts being offered to editing staff does not get enough takers, the Gray Lady could begin another round, NYT Executive Editor Dean Baquet recently warned his top department editors.”
Kelly reported that as part of an ongoing restructuring at the Times—which has been happening since early 2017—a whopping 109 copy editors have already been terminated while only 50 new jobs are likely to be created as the paper shifts its focus to digital. Kelly wrote:
The Gray Lady, which many in the media class consider the pinnacle of the information business, is struggling so much financially that reporters are expected to be laid off from the publication, along with many editors, the New York Post reports.
“Reporters at the New York Times could soon be ‘vulnerable’ to the ax,” the Post’s Keith Kelly wrote. “If the ongoing round of voluntary buyouts being offered to editing staff does not get enough takers, the Gray Lady could begin another round, NYT Executive Editor Dean Baquet recently warned his top department editors.”
Kelly reported that as part of an ongoing restructuring at the Times—which has been happening since early 2017—a whopping 109 copy editors have already been terminated while only 50 new jobs are likely to be created as the paper shifts its focus to digital. Kelly wrote:
When the downsizing was first revealed in late May, a memo from Baquet and Managing Editor Joe Kahn portrayed the cuts as a “streamlining” of the editing process and indicated that some of the savings would be used to hire up to 100 more journalists. But in a mid-June meeting with department heads, Baquet admitted that journalists could be targeted in a new round of layoffs once the editing ranks are culled.
