Most of the News That Might Fit to Print… New York Times Shrinking
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According to today’s Indianapolis Business Journal:
New York Times to cut staff, cut paper width
The New York Times Co. said today it plans to reduce the width of its flagship newspaper by an inch and a half and close a printing plant in Edison, N.J., resulting in the loss of about 250 jobs. The changes will go into effect by the second quarter of 2008 and will save the company about $42 million a year. The job cuts account for about one-third of the Times’ total production work force of 800. Other newspapers, including USA Today and the Wall Street Journal, have either switched to narrower paper or are planning to. The Times also today reported flat earnings for its second quarter and a slight gain in revenue. Its profit in the quarter was $61.3 million, or 42 cents a share, about the same as the second quarter last year.
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