- Moves are part of plan to make print operation more efficient
- Redesigned global edition will have more analysis, opinion
New York Times Co. plans to eliminate about 70 jobs in Paris as it concentrates editing and pre-press print production for its international edition in New York and Hong Kong to cut costs.
The moves are meant to “simplify our production process and enable us to produce the paper far more efficiently than we do today, a step that is critical to its financial viability,” Times Publisher Arthur Sulzberger Jr., Chief Executive Officer Mark Thompson and Executive Editor Dean Baquet wrote in a memo to staff Tuesday. The Times will keep a news bureau and advertising office in Paris.
“Without these proposed changes, we do not believe that an international print New York Times is sustainable over the long term,” they said.
The Times expects to pay about $13 million in relocation and severance charges, the company said in a regulatory filing.
The company also announced changes to its international edition that will include more context, analysis, opinion and long-form journalism. The redesign “will significantly improve the paper’s quality and relevance for our international readers and be more attractive for advertisers seeking to reach them,” according to a separate memo to international staff from Joe Kahn, an assistant masthead editor for international; Stephen Dunbar-Johnson, president of international operations; and Dick Stevenson, Europe editor.
The Times has been working to boost its digital presence abroad while making its shrinking print business more efficient. Earlier this month, the company said it will invest $50 million over the next three years to increase its digital audience around the world. As part of that effort, it created a new team, called NYT Global. In October, the Times outlined plans to double its digital revenue in the next four years by increasing the number of paid online subscribers and attracting more young and international readers. The Times generated $400 million in revenue through online advertising and subscriptions in 2014 and aims to bring in $800 million by 2020.