New York Times cuts internet staff

The New York Times is cutting staff at its internet division as part of money-saving scheme.

The New York Times is cutting staff at its internet division as part of money-saving scheme.

The news comes as News Corporation also cuts 200 jobs at its Fox internet division.

The New York Times company said the net division had increased revenues by 98% year on year, reaching $12.1m from $6.1m a year ago.

It performed well on revenue, with a 148% increase for the first nine months of 2000, down to strong advertising growth. But this was offset by heavy losses of $46.2m, which increased due to taking on more staff and marketing and advertising.

Despite the cuts, chief executive Martin Nisenholz said the internet division would remain a core offering: "We have access to unparalleled content, a world-renowned brand - today's move will further strengthen our ability to prosper in the future."



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