ABC Money
Home

Job cuts planned at Globe, Telegram


Published :
Thu, 11 Jan 2007 23:28
By : Agencies
Print this Story


AddThis Social Bookmark Button

BOSTON (AFX) - The New York Times Co. will cut about 125 positions through buyouts and other steps at The Boston Globe and the Telegram & Gazette of Worcester, and outsourcing some finance and advertising work, a Globe spokesman said Thursday.

About 70 of the positions will be eliminated through buyouts that will be offered to employees of the two newspapers starting late this month, Globe spokesman Al Larkin said. The buyouts will be offered to exempt and Newspaper Guild-covered employees with at least 10 years of service.

Seventeen positions in the newsroom and two opinion page positions are expected to be eliminated through buyouts at the Globe. No buyouts are planned at the T&G's editorial operations, Larkin said.

About 51 additional buyouts will be spread across non-editorial departments at the two newspapers, which are part of the Times Co.'s New England Media Group.

Also, some currently open positions will be left vacant, Larkin said.

In addition to the 70 cuts expected from buyouts, about 55 other positions will be eliminated by transferring support jobs for advertising and finance operations to outside companies, Larkin said. Those moves affect staff at the Boston and Worcester newspapers as well as the publications' online editions.

Employees affected by the outsourcing initiative will receive severance packages similar to those offered through the buyouts, Globe Publisher P. Steven Ainsley said in a statement distributed to staff.

'There will be additional steps we need to take as we continually look for ways to succeed in our new environment,' Ainsley said.

Larkin said the cuts announced Thursday were 'a response to continuing difficult advertising and circulation markets that most newspapers are experiencing.'

Last month, the Globe's largest union, the Boston Newspaper Guild, approved a new four-year contract that ties wage increases to revenue gains at the newspaper and its Web site.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.




Share on


 You Might Like
HP France to axe 5,900 jobs; unions angered
Chevron sees Q4 earnings hit by lower commodity prices, downstream margins
+
Apple's iTunes reaches a milestone, sells one-billionth song
Delta and pilots reach interim deal on wage cut

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
8046.42
+494.13 ( 6.54 %)
NASDAQ
1384.35
+68.23 ( 5.07 %)
FTSE 100
3777.27
-97.72 ( -2.52 %)

SYMBOL ( 2008-11-21 )
LAST
CHANGE
ANGLO AMERICAN ( 11:30am )
1135.00
+81.00 ( 7.43 %)
RIO TINTO ( 11:29am )
2100.00
+78.00 ( 3.72 %)
VEDANTA RESOURCES ( 11:29am )
449.00
+61.25 ( 15.40 %)
BHP BILLITON ( 11:29am )
791.00
+38.50 ( 4.94 %)
ANTOFAGASTA ( 11:29am )
355.00
+36.00 ( 11.21 %)

SYMBOL ( 2008-11-21 )
LAST
CHANGE
EXXON MOBIL CORP ( 4:00pm )
75.81
+7.30 ( 10.46 %)
3M COMPANY ( 4:02pm )
61.30
+4.51 ( 7.81 %)
PROCTER GAMBLE CO ( 4:00pm )
63.09
+3.76 ( 6.26 %)
UNITED TECHNOLOGIES CORP ( 4:01pm )
46.67
+3.45 ( 7.88 %)
IBM ( 4:01pm )
74.88
+3.14 ( 4.32 %)

SYMBOL ( 2008-11-21 )
LAST
CHANGE
MITSUI & CO LTD ( 3:59pm )
159.00
+17.56 ( 11.77 %)
RANDGOLD RES LTD ( 4:00pm )
33.41
+6.68 ( 21.69 %)
ATRION CP ( 4:00pm )
82.00
+6.53 ( 8.62 %)
INTUITIVE SURGICAL INC ( 4:00pm )
118.26
+6.52 ( 5.68 %)
AMER NATL INS CO ( 4:00pm )
61.05
+6.03 ( 10.40 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.