More layoffs in the dying newspaper industry, this time at the New York Times Company's (NYT) Boston Globe. 42 employees are being shown the door, mostly managers in advertising, circulation, and marketing. The entire newsroom was spared.
How bad are things at the Globe? Six months ago circulation was 350,605. But by September, the paper only sold 323,983 copies a day -- a 7.6% drop in readership in only six months. That's worse than the newspaper industry as a whole, which dropped an average 4.6% in the same period. And then there's the advertising recession.
Expect things to worse before they get better: The Globe, which is both the newspaper and the Boston.com Web site, employs over 2,500 employees.
See Also:
How The New York Times Can Save Itself
NYT: The Times Is Our Only Sacred Cow
Boston Globe Axing Hundreds, Raising Price
