The New York Times Company said Tuesday that a continued shift from print to digital demands a somewhat smaller and more focused newsroom and warned of budget reductions in 2017.
“There will be budget cuts this year,” according to a note published on the newspaper’s website that is attributed to Dean Baquet, executive editor, and Joe Kahn, managing editor.
“We will lay out the specifics in the coming weeks and months. We cannot pretend to be immune from financial pressures but we view this moment as a necessary repositioning of The Times’s newsroom, not as a diminishment,” the note said.
The note also pointed out the company is investing “more than ever” in accountability journalism, with an additional $5 million to produce even more coverage of the incoming Trump administration.