'New York Times' to cut up to 20 newsroom jobs
— -- The New York Times says it will eliminate as many as 20 newsroom positions as part of a cost-cutting measure.
The Times said Thursday that it will seek newsroom buyout volunteers.
Executive Editor Jill Abramson says no newsroom employee will be laid off. The Times also says it will seek additional savings in its business units.
The company cites a deteriorating advertising climate for the move.
In the first three months of 2011, The New York Times Co.'s advertising revenue decreased by 4%, or nearly $14 million, from the same time last year. The company owns the Times and 17 other daily newspapers.
This will be the Times' first significant staff reduction since the end of 2009, when about 100 of the newsroom's 1,250 jobs were cut.
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