NYT to cut 100 jobs, nix Opinion app
The New York Times today handed down another round of layoffs that will include about 100 newsroom jobs and a number of editorial and business-related positions.
The Times said the move is intended to “safeguard the newspaper’s long-term profitability.”
In addition to the layoffs the publisher will shutter its recently launched NYT Opinion app, citing a lack of subscribers.
“While there are promising signs in digital advertising and digital subscriptions, the print business remains under pressure,” Editor Dean Baquet said in a memo to staff. “Our new products are not achieving the business success we expected, even though they are journalistic sensations.”
Baquet said buyout packages will be “generous,” particularly for those with decades of service to the newspaper. Buyout requests must be completed by Oct. 17.
Those who do not take buyouts will receive three weeks of salary for every year worked at The Times, with the potential payout capped at two times their annual salary. In addition, The Times is offering a cash payout of 35 percent of the total severance amount to employees that have been with the paper for 20 years or more.
Baquet said he will use the cutbacks as an “opportunity to seriously reconsider some of what we do — from the number of sections we produce to the amount we spend on freelance content.”
Honolulu Star-Advertiser parent buys 2 newspapers on Hawaii’s Big Island
The parent of the Honolulu Star-Advertiser will control the publication of daily newspapers on three of Hawaii’s six main islands following the acquisition of theHawaii Tribune-Herald in Hilo and West Hawaii Today in Kailua-Kona from Las Vegas-based Stephens Media LLC.
Oahu Publications Inc. did not disclose the terms of the deal, set to close on Dec. 1, according to Dennis Francis, president of Oahu Publications.
Both Big Island newspapers will continue to publish daily “under existing staff,” as well as continue to print both newspapers at the West Hawaii Today facility following the transaction’s close, Francis said.
Oahu Publications purchased The Garden Island newspaper on Kauai from Lee Enterprises (NYSE: LEE) in early 2013 and moved the production and printing of the newspaper to Oahu.
The acquisitions leave the Maui News — which is owned by Ogden Newspapers Inc.based in Wheeling, West Virginia — as the sole daily newspaper in Hawaii not owned by Oahu Publications.
Oahu Publications had owned the Honolulu Star-Bulletin before buying The Honolulu Advertiser from Gannett Co. Inc. (NYSE: GCI) in 2010. The company merged the Advertiser and the Star-Bulletin to create the Honolulu Star-Advertiser. Oahu Publications also owns MidWeek.
Sound Publishing, a subsidiary of Oahu Publications parent Black Press, also purchased The Daily World in Aberdeen, Washington, and three weekly newspapers in Washington state from Stephens Media in a deal that closed on Wednesday.
Verso Paper to Close Its Bucksport, ME, Paper Mill Dec. 1, Displacing More Than 500 Workers
More than 500 employees will be out of work in the third mill closure in Maine this year, dealing a severe blow to the town of 5,000 people, which derives 47 percent of its tax revenues from the Verso mill.
“The Bucksport mill unfortunately has not been profitable for a number of years,” said Dave Paterson, Verso’s president and CEO.
The Mittera Group Acquires Commercial Offset Printing and Finishing Services Firm J.B. Kenehan
“As the industry continues to consolidate, the ability to expand both organically and through strategic acquisitions is key to our growth plan,” said Jon Troen, President of the Mittera Group. “J.B. Kenehan’s Beaver Dam and Waukesha facilities along with Kenehan’s Chicago division, Service Communications, not only widen our geographic reach but also enhance our capabilities.”
The acquisition brings the combined annual sales of the merged organizations to approximately $135 million with more than 750 employees operating in 10 facilities across the Midwest.
“This is an all-around great move. The added value and convenience of Mittera’s omni-channel communication solutions, in addition to the scale of their manufacturing, positions us to be even better partners for our customers,” added Tom Majdoch, president of J.B. Kenehan.
Mittera’s multimedia divisions specialize in data analytics and reporting, application development, design, photography, strategic analysis and social and digital marketing.
Boingo Graphics of Charlotte, NC, Adds an HP 7600 Digital Press to Boost Its Digital Printing Capacity
Boingo Graphics first invested in HP Digital Printing Solutions in 2001. “Back then, we had to explain the difference in this print technology and show how we could achieve an unmatched level of quality in a digital press—today this technology is preferred by buyers and often specified,” says Kirby.
Underscoring Boingo Graphics commitment to the environment, this is the first HP Indigo press with carbon-neutral manufacturing, designed for sustainability at every stage of its life. And it boasts 30 percent lower energy consumption. According to Boingo Graphics President Scott Nowokunski, “We are excited to offer our customers superior quality, faster speeds and an even more environmentally friendly production process.”