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New York Times lays off staff, seeks pay cuts

By Robert MacMillan for Reuters

NEW YORK (Reuters) – The New York Times Co laid off 100 employees on Thursday and cut salaries for the rest of the year by 5 percent, and said it might cut newsroom jobs at its namesake newspaper if it cannot get union employees to agree to a similar cut.

The news, which the Times released in two memos from company executives, comes on the same day rival newspaper The Washington Post said it wants to buy out an unspecified number of employees. (continues at Reuters.com)

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