Company Times Co., Which owns the New York Times and Boston Globe, 6 percent intend to reduce the salaries of employees of those publications while increasing the duration of their leave to 10 days. Wages will fall at least until the end of 2009. In addition, the New York Times will be laid off 100 employees.
The newspaper Washington Post on Thursday also announced the new phase of optimizing costs. The publication once again intends to offer to resign on his own will, in exchange for the payment of compensation or the right to early retirement. The proposal applies to employees aged over 50 who worked in publishing for more than 5 years. Compensation will be offered to members of the news and editorial departments of printing and distribution. In 2008, a similar measure has allowed the Washington Post to reduce staff to 231 staff.
The newspaper Washington Post has completed the year 2008 with operating losses of 192.7 million dollars. A year earlier edition showed a profit of 66,4 million dollars. Losses media group Times Co. in 2008 amounted to 30,3 million dollars. 2007 Times Co. finished with a profit of 248.6 million dollars.
Loss of two of the most popular in the U.S. public and political newspapers linked to reduced revenue from advertising and the decline in retail sales. For similar problems, said AFP, in the past few months experienced virtually all American editions. Since early 2009, two major newspapers - Seattle Post-Intelligencer and the Rocky Mountain News - announced the move to on-line version. Since March 27 stops to go in daily and the newspaper Christian Science Monitor, also decided to focus on developing a presence on the Internet.