The New York Times is ‘downsizing’ its payroll. Today is being referred to as Black Tuesday as the Times joins Philadelphia Newspapers Inc. in announcing staff lay offs. The workforce reduction comes just days after the Times implements Charges For Online Access To Columnists. Being able to print on paper doesn’t mean you can print money.
In their press release to employees Chairman Arthur Sulzberger and CEO Janet Robinson appear to value their own wealth over the lives of the working class.
"Given the continued financial challenges and the cloudy economic outlook for the remainder of the year, we believe it is prudent and necessary to initiate this additional reduction. We will be working through the bargaining issues with our unions and will observe all contractual obligations, including severance where applicable.”Earlier this year I posted here about the exact day I stopped reading the New York Times and today’s events are not surprising to anyone paying attention to the news. This is just a larger than normal seismic event in the continuing implosion of an Eighteenth Century business model for information distribution. In the Twenty First Century information age, you can survive printing lies for the fiction market, but you can no longer print lies and call them truth.
HT Moonbat Central
