The NY times said that they will cut its newsroom budget this year but also invest USD 5 million to wrap the Trump administration as part of a strategic reorganization.
The key Times staffers reported the “2020 Group” by outlining the plans to the prestigious daily for shifting the resources during remaining relevant in the digital era.
The Executive Editor Dean Baquet and Managing Editor Joe Kahn said in a memorandum that we will specify soon that “this year budget will be cut” and “we cannot feign to be resistant from financial pressures.
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The NY times is one of the biggest news organizations of the world with a Newsroom of about 1,300 but as readers move towards online news from print which result is it has to suffer financially.
Banquet and Kahn said, “They are looking this opportunity not as diminishment but as the newsroom of the Times’s necessary repositioning. “
The memorandum said, “This deeply commits us to protect our investment in the original storytelling and newsgathering which will not be made the Times dispensable in our readers’ lives.”
This clearly means an additional USD 5 million investment so even more coverage of the administration of Trump can be produced.
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They stated that The NY times newsroom will have top priority to cover this story fairly, aggressively and unrelentingly this year.
The memo said that editing staff is one of the areas to cut as we have much more layers, hands on every story and people who are involved in meddling with small fixes in story of news.
Significant changes will be involved in structure, culture, staffing and investment in training and tool building. The growth is come between the moves at the rival Washington Post which recently declared as it became profitable under new owner Jeff Bezos, founder of Amazon, even as its newsroom has been expanded and advanced its technology.
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