New York Times Freezes Pension Plan for Management
by Peter Kafka
Posted on November 12, 2009 at 6:35 AM PT
The only news here is that it took this long: The New York Times (NYT), which is trying to figure out how to boost revenue and cut costs, is freezing pension and benefit plans for its managers, but not its unionized workers, at the end of this year. Earlier this year, the Times announced that it would cut 100 positions at its flagship newspaper, which would still leave it with a newsroom staff of more than 1,000 people.
(Thanks to a sharp-eyed reader–who has good reason to be sharp-eyed about this stuff–for noting that the freeze only affects management and not the rank and file.)
