NY Times slashes non-union benefits

"(In) its latest 10-Q are the (N.Y.) Times Co.'s plans to shave tens of millions of dollars from its budget by hacking away at pension and medical benefits for non-union employees.

• Those who retire on or after March 1, 2009, will no longer receive medical coverage after they turn 65, when they become eligible for Medicare.

The Times Co. also said it has decreased the formula for pension benefits.

• The changes, adopted Oct. 22, will yield estimated savings of $24 million in 2009."

via Poynter.org/Romenesko

Tweet Stumbleupon StumbleUpon