Results tagged “buyouts”

Earlier this year, the NY Times asked its union to take 5% pay cuts, to help stanch its financial bleeding (a $74 million 1Q loss). Now the Post reports though the Times had "a surprise profit in the second quarter" (thanks to cost-cutting), it will "launch another round of employee buyouts to further trim costs." Management met with the NY Newspaper Guild, which also suggested "a four-day work week, being more flexible with comp time and reducing paper use in the building."