Silicon Valley Insider editor, Nicholas Carlson, comments on the possibility of cuts at the New York Times [Thursday April 2].
“The New York Times says it will lay off 70 people from its newsroom if employees who belong to the Newspaper Guild don’t agree to take pay cuts.
“We expect the Guild, which met with Times management yesterday [Wednesday], to make all the necessary concessions.”
MediaBistro owner WebMediaBrands, formerly known as Jupitermedia, has laid off 60 employees – about 25 per cent of its total staff, Nicholas Carlson of The Business Insider reports.
The remaining employees will get a 5 per cent pay cut.
Jupitermedia recently completed its sale of Jupiterimages to Getty for $96 million, about half the original bidding price that prompted protracted negotiations last year, according to Photo District News (PDN). Things look non too rosy for Jupiterimages staff either, with Getty similarly poised to make swingeing cuts.
In a memorandum to WedMediaBrands staff (reproduced in full by The Business Insider), CEO Alan Meckler blames the cuts on a major downturn in jobs board revenue for MediaBistro (which Jupitermedia bought for $23 million in 2007), plus a decline in general advertising and event registrations.