"All The News That's Fit to Print" is going to have to be published with a little less manpower now that The New York Times
The announcement comes a day after the company launched its Times Select premium service, charging online readers for some of the digital content that it used to provide for free.
Laying off some of its staff at the same time it begins charging for online content is certainly a bold combination. It has to now communicate the value in paying for what was once free, despite reductions in the newsroom. Even though the company's premium columnists are unlikely to go anywhere, it's a battle against public perception.
Yesterday, the company also announced that advertising fell for the month of August at its traditional newspapers and has been "challenging" so far in September. However, the Times' online presence was posting double-digit gains in advertising. That may lead one to wonder why the company feels the need to launch Times Select while being rewarded by sponsors for growing its online traffic.
Times are tight in the print world. Rivals Knight Ridder
The migration continues. Companies like Google
That's why The New York Times acquired About.com earlier this year. It's why The Washington Post
Longtime Fool contributor Rick Munarriz still enjoys reading the paper in the morning, but finds it obsolete once breakfast is over. He does not own shares in any of the companies mentioned in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.