New York Times TV reporter Bill Carter is taking a voluntary buyout.

Carter, who has covered the television industry for over 25 years, told The Huffington Post on Monday that it was a “really wrenching and agonizing decision.”

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The Times is seeking 100 employees to take buyouts by 5 p.m. on Monday, with layoffs possible if that number isn’t reached, according to HuffPost. Non-management employees will reportedly receive three weeks salary for every year worked at the paper. Those who have worked there at least 20 years are also eligible to receive additional severance pay.

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“I went through a long process, but I couldn’t square passing up what amounts to the best kind of severance at a newspaper job,” Carter continued, adding that he has a contract for a book on late-night television and is looking for new employment.

“I love this job and I love the Times. I would never do this under other circumstances. I feel the economic pressure to do this.”

Carter joined the Times in 1989 as a national media reporter, and has also written numerous articles for The New York Times Magazine. Before joining the paper, he was a writer for the Baltimore Sun, where he wrote reports, features and a weekly sports column.

He is also the author of the 1994 book, “The Late Shift,” about the late-night battle between David Letterman and Jay Leno, which was a bestseller and was the basis of an HBO film by the same name.