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NEW YORK (Reuters) – The New York Times said on Monday it would cut 100 newsroom jobs through buyouts or layoffs as it tries to counter lost advertising revenue."Let me cut to the chase: We have been told to reduce the newsroom by 100 positions between now and the end of the year." Times Executive Editor Bill Keller told employees in a memo obtained by Reuters.This is the second time in little more than a year that the Times has sought to reduce its newsroom staff.

In 2008, the newspaper cut 100 newsroom jobs.Earlier this year, it cut salaries by 5 percent.The newspaper has 1,250 editorial employees, down from 1,330, the Times reported on its website. It said no other U.S. newspaper has more than about 750 journalists.The New York Times Co, which owns the newspaper, plans to report third-quarter results on Thursday. The company has experienced declines in advertising and mounting debt that have forced it to cut costs and sell assets.Many publishers, including USA Today publisher Gannett Co Inc, which reported its quarterly results on Monday, have had the same problems.Last week, the Times stopped trying to sell The Boston Globe. It had threatened to close that newspaper unless its unions agreed to cut costs. It also has been trying to sell its stake in the company that owns the Boston Red Sox professional baseball team.Earlier this year, the union agreed to the 5 percent pay cut in the hope that the newspaper would offer buyouts instead of layoffs if it had to cut more costs, O'Meara said.
He said the buyouts would not reflect the 5 percent cut.
"It's a great paper, but it's not immune to many of the same forces that are hitting newspapers nationwide," O'Meara said.