A sluggish US newspaper advertising market is forcing several major publishers to cut jobs.
The New York Times Company is to shed around 500 employees, or 4% of the workforce, starting next month.
The company reports advertising revenues declined 0.8% in August, compared with an increase of 6.9% in August 2004. Says president and ceo Janet Robinson: "Advertising is weaker than expected."
Most affected are entertainment, technology and travel advertising, all of which have undermined growth in other areas.
The NYT is not struggling alone. San Jose-headquartered publisher Knight Ridder has also announced cuts at its Philadelphia Inquirer and Daily News, of 75 jobs and 25 jobs respectively.
Data sourced from Wall Street Journal Online; additional content by WARC staff