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National Briefing / East Coast

Times, Post institute cuts

March 27, 2009|Times Wire Reports

The New York Times Co. and the Washington Post Co. each announced new rounds of cost cuts involving a mix of pay cuts, employee buyouts and layoffs.

The New York Times plans to at least temporarily reduce the pay of most employees by 5% from April through December. In return, the affected employees will get 10 additional days off. About 100 layoffs are also planned in the business operations of the Times newspaper, which employ about 2,000 people. The pay cuts will also affect the Boston Globe, which is owned by the Times.

The Washington Post Co. is seeking the fourth round of buyouts since 2003 at its flagship newspaper.

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