Floyd Norris, business columnist and 26-year veteran of the New York Times, is the most prominent staffer to accept the buyout package designed to trim 100 from the ranks of the revamping paper.
He’s leaving Dec. 19 to pursue opportunities at perhaps a university or foundation after taking a break from his twice-a-week column schedule.
David Firestone, a member of the paper’s editorial board since 2010, joins Norris in leaving the NYT. The 21-year veteran announced his departure via Twitter.
About 30 staffers have accepted the buyout package. The deadline for acceptance is today. Publisher Pinch Sulzberger expects to unveil layoffs to achieve the 100 job cut goal.
The current layoffs are the fourth reduction since 2008.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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