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May 2005
New York Times to Cut 190 Jobs
Editor and Publisher reports that the New York Times plans to cut 190 jobs through a "voluntary reduction program" by the end of August, 2005.
In a statement, the company said the reductions will include "fewer than two dozen" employees in The New York Times newsroom. About two-thirds of the reductions will occur at the Times, with the rest coming from the company's New England Media Group, which includes The Boston Globe.
Posted on May 26, 2005
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Friendster CEO Departs
Friendster's CEO Scott Sassa has left the company according to a BusinessWeek article. The social networking company has also laid off five employees. Friendster has been losing ground to competitors like MySpace.com
Posted on May 25, 2005
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Time Warner Loses Employee Data
Time Warner has lost data on over 600,000 current and former Time Warner
employees. CNN reports that the data was lost by a storage company Time Warner uses
to store the information. CNN says the Secret Service is investigation the
incident.
Posted on May 4, 2005
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WSJ: Dwindling Newspaper Circulation
The bad news just keeps on coming for newspapers. The Wall Street Journal reports
that the latest circulation data will show declines of an additional
1% to 3% in newspaper circulation. The WSJ reports that newspapers are
being forced to try new strategies in managing subscribers:
Rather than simply trying to halt the decline, which can be done readily through discounts and promotions, they're being forced to try to "manage" their circulation in new ways. Some publishers are deliberately cutting circulation in the hope of selling advertisers on the quality of their subscribers. Others are expanding into new markets to make up for losses in their core markets. Some are switching to a tabloid format or giving away papers to try to attract younger readers. Others are pouring money into television and radio advertising and expensive face-to-face sales
pitches to potential subscribers.
The losses come at a time when Americans have many news outlets that didn't exist 20 years ago, including cable-television news channels and Internet sites, as well as email and cellphone alerts. Many newspapers have substantial and free online sites offering much of what is in the printed paper. These sites might not hurt readership overall, but they can erode a newspaper's paying audience.
Posted on May 2, 2005
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