The New York Times Company Announces Targeted Staff Reduction Program »

The New York Times Company announced today that it plans to undertake a targeted staff reduction program that will include approximately 190 employees at The New York Times and the New England Media Group, which includes The Boston Globe.

The staff reduction represents less than 2% of the Company's total workforce and the Company expects to implement the program by the end of August 2005 in accordance with certain contractual waiting periods. 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, the smooth functioning of the Company's daily operations and the ability to achieve its long-term strategic goals.