NEW YORK TIMES CO. TO CUT STAFF ACROSS ALL UNITS

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(April 12, 2001) -- The New York Times Co. announced today it was seeking staff reductions across all its business units, to be accmplished "where possible" through buyouts, Times President Russ Lewis said in a statement. The company said it did not know how many jobs would be affected and estimated the entire process woudl take two to three months. Last month, the Times lowered earnings forecasts for the first quarter of this year, owing to a slowdown in the economy and ad revenues. -- Jon Fine

Copyright April 2001, Crain Communications Inc.

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