Dow Jones, New York Times Co. announce layoffs

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New York--Reeling from the deteriorating ad market, both The New York Times Co. and Dow Jones & Co. Inc. on Thursday announced layoffs. The Times said it would begin cutting staff at all of its business units, but couldn't estimate the number of employees affected because of a voluntary buyout program under way. Meanwhile, Dow Jones said it was laying off 202 workers, or about 2% of its work force. The move comes as Dow Jones reported first-quarter earnings just below expectations, which had already been lowered twice. The company also eliminated 300 job openings.
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