New York Times Offers Buyouts to Metro Section: ‘These Are Not Cuts’

The New York Times will offer buyouts to reporters on their Metro Section, section editor Clifford Levy announced in a tweet Tuesday.

“Two months ago, I became @nytmetro editor, and it’s been thrilling. I see big opportunities. But I’m also examining what staff we need to have much more impact,” he said.

“So today, I announced voluntary buyouts. These are not cuts. @NYTMetro is not shrinking. But it will change.”

Two months ago, I became @nytmetro editor, and it’s been thrilling.
I see big opportunities. But I’m also examining what staff we need to have much more impact.
So today, I announced voluntary buyouts. These are not cuts. @NYTMetro is not shrinking. But it will change. pic.twitter.com/VvsHDiiFnS

— Clifford Levy (@cliffordlevy) October 5, 2018

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In an additional note to his team, Levy said that the buyouts were intended to put the section on stronger digital footing as the broader print paper continues to face industry headwinds.

“My overall judgement is that Metro has lost its footing and needs urgent and fundamental change,” said Levy. “Our department remains grounded in a print approach and a print sensibility, often seemingly clinging to the idea that longstanding practices should be enough to get by in the digital era.”

“I’m very exited about working with you to usher in a new digital and audience-focused Metro. But I realize that this approach might not be for everyone.” he added.

Executive editor Dean Baquet also reiterated in a broader email to staff that the buyouts would be “voluntary” and “limited” to the Metro desk. Both Baquet and Levy also said the goal was not to reduce the overall size of the Metro team.

The Times declined to comment when contacted by TheWrap.

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Though President Trump has taken to calling the New York Times a “failing” paper, his term in office has coincided with a period of rapid growth for the Gray Lady. As many competitors have struggled to break even amid declining print sales, the Times has thrived, building a robust paid subscription service directly with their readers. In their most recent quarter, the paper reported a $24 million profit.

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The New York Times will offer buyouts to reporters on their Metro Section, section editor Clifford Levy announced in a tweet Tuesday.

“Two months ago, I became @nytmetro editor, and it’s been thrilling. I see big opportunities. But I’m also examining what staff we need to have much more impact,” he said.

“So today, I announced voluntary buyouts. These are not cuts. @NYTMetro is not shrinking. But it will change.”

In an additional note to his team, Levy said that the buyouts were intended to put the section on stronger digital footing as the broader print paper continues to face industry headwinds.

“My overall judgement is that Metro has lost its footing and needs urgent and fundamental change,” said Levy. “Our department remains grounded in a print approach and a print sensibility, often seemingly clinging to the idea that longstanding practices should be enough to get by in the digital era.”

“I’m very exited about working with you to usher in a new digital and audience-focused Metro. But I realize that this approach might not be for everyone.” he added.

Executive editor Dean Baquet also reiterated in a broader email to staff that the buyouts would be “voluntary” and “limited” to the Metro desk. Both Baquet and Levy also said the goal was not to reduce the overall size of the Metro team.

The Times declined to comment when contacted by TheWrap.

Though President Trump has taken to calling the New York Times a “failing” paper, his term in office has coincided with a period of rapid growth for the Gray Lady. As many competitors have struggled to break even amid declining print sales, the Times has thrived, building a robust paid subscription service directly with their readers. In their most recent quarter, the paper reported a $24 million profit.

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New York Times Columnist Offers Emotional Defense of Kavanaugh Accuser: 'I Was a Victim'

New York Times Tweets 'Regret' for Mistaking Angela Bassett for Omarosa in Emmy Coverage

Omarosa Vaults to No. 1 on New York Times Best-Seller List

Apple Lands Project Based on New York Times Writer's Climate Change Feature 'Losing Earth'

Gizmodo Media Downsizes as More Than 40 Staffers Take Buyouts

Gizmodo Media has avoided a round of layoffs after more than 40 staffers at the company agreed to buyouts, a source familiar with the matter confirmed to TheWrap.

In all, 44 employees agreed to voluntarily depart the company in return for 18 weeks of post-employment pay and health coverage.

“The response to the voluntary package was significant enough for us to avoid any newsroom layoffs,” editorial director Susie Banikarim said in an internal memo obtained by TheWrap. “While that is the outcome for which we’d hoped, any relief is bittersweet because it comes with the loss of talented and valued colleagues whose countless contributions will be greatly missed. We will allow them to share their news in their own time and in their own way.”

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Banikarim added that most of the departing employees would be gone by July 6, though a few would stay on to complete projects that were already underway.

I took a buyout from Gizmodo Media Group and today was my last day. Tomorrow, I go to Peru on a “pre-planned vacation” to consume as much pisco as the altitude will allow. I’ll be back July 10, ready to write for YOU: https://t.co/9wmHywC4kx

— David Uberti (@DavidUberti) June 28, 2018

Gizmodo is the latest media company to face cutbacks in an increasingly turbulent media market. Over the last 12 months, BuzzFeed, Vox, Vice and Mashable have all laid off dozens of employees. Gizmodo Media’s parent company, Univision, laid 150 employees two months ago.

Univision acquired Gizmodo Media and a slate of former Gawker Media properties like Jezebel and Deadspin in 2016. The company paid $135 million at the time, signaling a big push into the digital media space. Things have not been going as planned. In a lengthy takedown, reporters from Splinter, a media blog for Gizmodo, laced into their parent company, calling it a “f—ing mess.”

Univision fell victim to “a disastrous private equity buyout finalized in 2007; an aging audience; a burdensome program-licensing deal with Televisa; competition from Telemundo and Netflix; layers of overpaid and useless middle management; and a general failure to position itself for a digital future,” they wrote in the piece, which you can read here.

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Gizmodo Media has avoided a round of layoffs after more than 40 staffers at the company agreed to buyouts, a source familiar with the matter confirmed to TheWrap.

In all, 44 employees agreed to voluntarily depart the company in return for 18 weeks of post-employment pay and health coverage.

“The response to the voluntary package was significant enough for us to avoid any newsroom layoffs,” editorial director Susie Banikarim said in an internal memo obtained by TheWrap. “While that is the outcome for which we’d hoped, any relief is bittersweet because it comes with the loss of talented and valued colleagues whose countless contributions will be greatly missed. We will allow them to share their news in their own time and in their own way.”

Banikarim added that most of the departing employees would be gone by July 6, though a few would stay on to complete projects that were already underway.

Gizmodo is the latest media company to face cutbacks in an increasingly turbulent media market. Over the last 12 months, BuzzFeed, Vox, Vice and Mashable have all laid off dozens of employees. Gizmodo Media’s parent company, Univision, laid 150 employees two months ago.

Univision acquired Gizmodo Media and a slate of former Gawker Media properties like Jezebel and Deadspin in 2016. The company paid $135 million at the time, signaling a big push into the digital media space. Things have not been going as planned. In a lengthy takedown, reporters from Splinter, a media blog for Gizmodo, laced into their parent company, calling it a “f—ing mess.”

Univision fell victim to “a disastrous private equity buyout finalized in 2007; an aging audience; a burdensome program-licensing deal with Televisa; competition from Telemundo and Netflix; layers of overpaid and useless middle management; and a general failure to position itself for a digital future,” they wrote in the piece, which you can read here.

Related stories from TheWrap:

Univision's Gizmodo Media to Downsize 15 Percent of Editorial Staff Through Buyouts

'Univision Is a F-ing Mess': Gizmodo Journalists Take Down Parent Company in Epic Article

Gizmodo CEO Steps Down as Company Layoffs Looms

Gizmodo Sues the FBI for Roger Ailes' File

Univision’s Gizmodo Media to Downsize 15 Percent of Editorial Staff Through Buyouts

Univision’s Gizmodo Media will trim an additional 15 percent of its editorial workforce, a person familiar with the situation told TheWrap Thursday. The company is looking to handle the matter through buyouts to avoid another potential round of layoffs.

Reps for Univision declined to comment for this story.

Buyout packages have already been floated at Jezebel and Deadspin, two properties purchased by Gizmodo from the now-defunct Gawker Media in 2016. Buyouts are also planned for The Onion.

Also Read: ‘Univision Is a F-ing Mess’: Gizmodo Journalists Take Down Parent Company in Epic Article

“If enough people accept buyouts, they won’t have to do layoffs,” a Gizmodo Media employee told TheWrap.

The buyouts are the latest round of bad news for a company that has been buffeted by layoffs and management shuffles in recent months. In March, Univision CEO Randy Falco stepped down amid questions over his performance. A month later, the company shed 150 jobs and scuttled plans for an IPO. People familiar with the matter at the time said the cuts were broad-based “across all of Univision”

“We are taking steps necessary for our business to continue to thrive, but we will never compromise our duty and purpose to inform, entertain and empower our community, which is more important today than ever before,” a spokesperson told TheWrap at the time.

Also Read: Univision CEO Signals More Layoffs, Upheaval to Come

Gizmodo Media CEO Raju Narisetti stepped down in April.

“If you can, amid all the relentless change that is now the new normal for our business, remain focused on our growing audiences, and keep creating meaningful differences than better sameness, with all your journalism,” Narisetti said to the staff at the time.

Last month, Splinter, a Gizmodo property, published a brutal rebuke of  Univision, calling the company a “f—ing mess”

“From routine human resources f-ups to vastly overselling the prospects of an IPO whose ultimate doom this March precipitated the company’s current cost-cutting spree, Univision has been deeply mismanaged and is in the midst of making huge cuts that have, among other things, already claimed vast swaths of Univision Noticias-the most vital newsgathering operation serving the Spanish-speaking community in the U.S.-and Fusion Media Group,” the wrote.

News of the buyouts was first reported by Bloomberg.

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Univision’s Gizmodo Media will trim an additional 15 percent of its editorial workforce, a person familiar with the situation told TheWrap Thursday. The company is looking to handle the matter through buyouts to avoid another potential round of layoffs.

Reps for Univision declined to comment for this story.

Buyout packages have already been floated at Jezebel and Deadspin, two properties purchased by Gizmodo from the now-defunct Gawker Media in 2016. Buyouts are also planned for The Onion.

“If enough people accept buyouts, they won’t have to do layoffs,” a Gizmodo Media employee told TheWrap.

The buyouts are the latest round of bad news for a company that has been buffeted by layoffs and management shuffles in recent months. In March, Univision CEO Randy Falco stepped down amid questions over his performance. A month later, the company shed 150 jobs and scuttled plans for an IPO. People familiar with the matter at the time said the cuts were broad-based “across all of Univision”

“We are taking steps necessary for our business to continue to thrive, but we will never compromise our duty and purpose to inform, entertain and empower our community, which is more important today than ever before,” a spokesperson told TheWrap at the time.

Gizmodo Media CEO Raju Narisetti stepped down in April.

“If you can, amid all the relentless change that is now the new normal for our business, remain focused on our growing audiences, and keep creating meaningful differences than better sameness, with all your journalism,” Narisetti said to the staff at the time.

Last month, Splinter, a Gizmodo property, published a brutal rebuke of  Univision, calling the company a “f—ing mess”

“From routine human resources f-ups to vastly overselling the prospects of an IPO whose ultimate doom this March precipitated the company’s current cost-cutting spree, Univision has been deeply mismanaged and is in the midst of making huge cuts that have, among other things, already claimed vast swaths of Univision Noticias-the most vital newsgathering operation serving the Spanish-speaking community in the U.S.-and Fusion Media Group,” the wrote.

News of the buyouts was first reported by Bloomberg.

Related stories from TheWrap:

Univision Calls for End of Trump's Migrant Separation Policy: 'Devastating to See the Pain of Children'

Facebook Watch to Launch News Shows From Anderson Cooper, Fox News, Univision

Vincent Sadusky to Replace Randy Falco as Univision CEO

Univision Inks 10-Year Deal to Keep Latin Grammys

New York Times Kills ‘Public Editor’ Slot, Offers More Buyouts

The New York Times this morning announced the elimination of its Public Editor column, a widely read print and online insider’s critique of the paper that followed a national trend of newspapers creating “ombudsman” positions for readers to address complaints. Liz Spayd, the current public editor, will leave The Times on Friday, according to a memo to the staff from publisher Arthur Sulzberger Jr.
The paper’s executive editor, Dean Baquet, also announced, as expected, a…

The New York Times this morning announced the elimination of its Public Editor column, a widely read print and online insider’s critique of the paper that followed a national trend of newspapers creating “ombudsman” positions for readers to address complaints. Liz Spayd, the current public editor, will leave The Times on Friday, according to a memo to the staff from publisher Arthur Sulzberger Jr. The paper’s executive editor, Dean Baquet, also announced, as expected, a…