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NY Times to Cut 190 JobsPOSTED May 25, 2005 NEW YORK, NY -- The NY Times company is looking to reduce costs by cutting almost 2% percent of its workforce. The cutbacks will mean 190 jobs will be eliminated. The positions that will be reduced will include jobs at the company's NY Times flagship newspaper as well as its New England Media Group, which includes The Boston Globe. The company says approximately two thirds of the total reduction will occur at The New York Times newspaper, with fewer than two dozen of that number coming from The Times's newsroom, where a voluntary reduction program will be in effect. Staff reductions will be carefully managed so that they do not adversely affect journalistic quality and the functioning of daily operations. The cutbacks won't go into effect until August. Earlier this month, The NY Times announced it would begin charging for access to op-ed columns on its website beginning this fall. The rest of the paper's content would still be free, but continue to require registration. The company also this month reported weaker than expected advertising in travel, fashion and financial services categories in its newspaper. Ad revenues did increase 0.7% from the previous year. Circulation of the company's newspapers have been flat at The NY Times and down at The Boston Globe. For the six-month period ending March 2005, The NY Times circulation was 1,136,433 daily and 1,680,582 on Sundays. Circulation at The Boston Globe was 434,329 daily and 672,882 on Sundays.
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