Obama Economy Hits Media: NYT, Time Announce Major Layoffs: It’s not your business model that sucks; it’s you that sucks. -- Andrew Breitbart
As many as 700 -- almost ten-percent of the overall staff -- are on the chopping block at Time Magazine. According to New York Magazine, a whole herd of top-level sacred cows at the New York Times will be given the non-choice of a buyout or a forced layoff within the next few weeks.
And in both cases, it's due to "rapidly declining advertising revenue."
Yeah, that's a shame.
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