Citing the difficult economy, the New York Times lays off members of its corporate and business staff
The New York Times, citing the challenging economy, eliminated 50 non-newsroom positions on Wednesday.
The layoffs took place at the paper's corporate and business units, a spokesman for the company told TheWrap.
In a statement, the spokesman said the Times was attempting to become "more operationally efficient" as the news industry continued to struggle to adapt during the downturn.
"We are constantly evaluating ways to rebalance and manage our operations to adjust to the changing business environment, with a goal of maintaining our financial health," the Times said in a statement.
The cuts also included eliminating several open positions.
The Times has undergone several rounds of layoffs and buyouts over the past five years as the paper has struggled to adjust to declining print advertising. In October, the Times announced it was offering buyouts with the goal of eliminating up to 20 newsroom positions.
Although the paper's well publicized paywall initiative has been critical in propping up its circulation, print and digital revenues have continued to drop.
In its most recent earnings report, the company reported declining revenue for the fifth consecutive quarter. Print advertising revenue fell 7.2 percent and digital advertising revenue dropped 10.3 percent during the period.
JimRomenesko.com first reported the layoffs.
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