New York Times (NYT): Job Cuts Suggest Ads Weakening

The ad weakness the New York Times saw in October has apparently spilled over into November. Reuters cites an internal memo from Times editor Bill Keller describing a hiring freeze and administrative job cuts in the newsroom.

“We put into place a hiring freeze several week ago, and except for those jobs that are critically important to our future ambitions, we will be trying to fill their positions internally.”

Keller hurries to say that no journalists will be whacked–this time–but then concludes with this ominous warning:

As we approach 2008, it is clear that the newsroom is going to have to do even more to tighten spending, and to help the publisher and the Times Company meet the difficult financial challenges facing our industry. While we are committed to retaining our competitive muscle, we will be facing some tough choices about where to save..

See Also:
New York Times Gets Another SELL Rating, $14 Target
NYT October Revenue Weakens Again: Bad News for All

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