New York Times Sheds Another 550 Jobs

The New York Times Company announced today that in January it will close City & Suburban, its distribution organization that delivers The New York Times and approximately 200 other newspapers and magazines to newsstands and retail outlets in the New York metropolitan area. Going forward, The New York Times will be distributed to newsstands and retail outlets through a combination of third-party wholesalers and the Company's own drivers. ...Approximately 550 full-time equivalent employees will be affected by the closure and the Company plans to ease the change by providing severance packages to them.