In its deal to sell 16 regional papers to Halifax Media, The New York Times Co. limited layoffs to 10 percent of employees, according to an SEC filing from Dec. 27, 2011. Since the New York Times Regional Group employed about 2,000 people at the time of the sale, according to the Times’ Abbe Serphos, that means about 200 people could have lost their jobs when the sale was completed. Though the agreement required Halifax to provide the Times with a list of names of everyone it intended to let go, the Times is not commenting on whether Halifax laid off the maximum number.
NYT limited layoffs to 200 employees in sale to Halifax
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Seeded on Wed Jan 11, 2012 9:29 AM
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