Posted on 10/31/2014 1:48:21 PM PDT by jimbo123
The New York Times will announce its third quarter earnings on October 30. It’s make or break time.
On October 1 President and CEO Mark Thompson said 100 plus staff cuts would “safeguard the long-term profitability of The Times,” and were not the result of any short-term business difficulties. The Times seems more confident chopping its way to survival than developing new revenue sources, and sticking by them, until they deliver profitability on a consistent basis.
The Times has not recorded consistent profit growth for five years and can’t realistically expect it again soon. For every bit of good news its executives cling to, there’s worse, sometimes much worse, bad news to go with it. That’s because its balance sheet is in worse shape than executives will admit and its proven ability to embrace change has been limited.
(Excerpt) Read more at forbes.com ...
This thread is no good without a Nelson, ‘ah ha!’ Jpeg.
“in one quarter!”Wouldn’t that be $1.00 or $1.25?
They've been bankrupt of ideology for decades.
I hope to see a lot more of it
good, all those people being layed off are now free of the shackles of a job and they can now pursue their passions.
That’s odd. Rush and Fox news are still profitable.
100 plus staff cuts would “safeguard the long-term profitability of The Times,” and were not the result of any short-term business difficulties.”
Wow! They must be really overstaffed
Wait, don't those liberal rags like the NYT rail against "big business" for doing exactly this kind of thing? How dare they worry about a little thing like profitability! Why, they shouldn't be cutting anyone, they should be hiring on 100 illegals undocumented workers and paying them all a "fair" minimum wage of something like $22/hr. After all, that's what these libtards are trying to force on so many other businesses. So how about it NYT? Put up or shut up hypocrites.
I thought leftwing socialists believed PROFIT was EVIL.
Why don't they just go all-digital? Every New Yorker has apps now anyway.
“The Times has not recorded consistent profit growth for five years...”
Uhmmmm...started nosing down right after Zero got in office?
Folks started paying attention then, realized that rag was part of the problem...and started dumping subscriptions.
Management has been working very diligently to run it in to the ground and maybe they finally succeed to finish it off.
May an unclean Yak back into their lunch.
Their loss will be unnoticed by all sentient beings.
I wish nothing but a slow, painful, humiliating death for the NYSlimes.
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