The New York Times became the latest media company to announce job cuts at its Internet division when it said yesterday that New York Times Digital would eliminate 17 percent of its staff.
The layoffs total 69 employees, according to reports. They follow similar announcements in recent weeks from Rupert Murdoch's News Corp. and Knight Ridder Inc.
The job cuts are designed to make NYTD profitable by the end of 2002. The New York Times subsidiary operates NYTimes.com, Boston.com and newyorktoday.com. NYTD nixed plans for an initial public offering in October after a downturn in financial markets.
