Date:
Thu, 12 Apr 2001 12:06:12 -0400
From: "NYTIMES MAIL"
To: "NY TIMES"
Subject: Message from Arthur, Janet, Joe and Howell
Dear
Colleagues,
We
hope that you have had a chance to see The New York Times
Company webcast (http://insite.nytco.com/) which underscores
the serious problems we are confronting, ranging from higher
newsprint prices, diminishing advertising revenues and a slowing
economy.
Each
of these problems on its own would be serious enough. Taken
together -- and with no signs of improvement -- they present
a situation that must be addressed quickly and responsibly.
Over the past few months we've done much to bring our costs
in line with our revenues. We've postponed various business
and journalistic initiatives; we've cut back on marketing
and travel and entertainment expenses; we've even made carefully
targeted reductions in our newshole. Now, across the Company,
we're turning to staffing levels as the last significant area
of cost-savings we have to address.
This
letter concerns how we plan to go about these staff reductions
at The Times.
Ever
since our State of The Times meetings a few weeks ago, the
word "buyout" has been in the air. Voluntary buyouts are our
preferred way of reducing staffing levels, and it should come
as no surprise to anyone here that we will be using this method
first. We are currently discussing with the Guild the terms
and conditions of this buyout. Once those discussions are
concluded many of you -- whether Guild or exempt employees
-- will receive letters with details and specific limitations
regarding the voluntary buyout offer.
It
is important for you to be aware that these offers will apply
only in those areas where we have determined that we can reduce
our staff without jeopardizing the accomplishment of our long-term
goals. You should also be aware that the newspaper reserves
the right to reject a specific buyout request if management
feels that such a buyout would be detrimental to our business.
We
are hopeful that voluntary buyouts will accomplish the necessary
reduction in costs and that no further reduction efforts will
be required. The final answer will depend on two key factors:
the number of eligible employees who are accepted for the
buyout offers, and whether or not the economy rebounds.
Whether
measured by the quality of our journalism or the success of
our many business initiatives, The New York Times is
at the top of its game. The actions we undertake now are meant
to ensure the continued long-term prosperity of our newspaper.
Any decision that would diminish the quality of our newspaper
is simply not an option.
The
New York Times has been through economic downturns before.
Throughout our 150-year history, we have not just survived
-- we have come back to prosper as never before. We have great
confidence in our shared vision, intellect and values, and
we know that we will emerge from this turbulent period stronger
than ever.
That
said, we understand that times like these are not just unsettling
for our business -- they can be unsettling for you. We ask
for your patience as we navigate through this difficult period.
We will try to do so with as much sensitivity to the concerns
and needs of individuals as we possibly can.
Arthur
Janet
Joe
Howell
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