The New York Times Cuts Jobs, Salaries

The New York Times has eliminated 100 positions and will cut non-union salaries by as much as 5%.

Newspaper revenue has plunged as readers seek more news from the Internet, where advertising sales are less lucrative.

Non-union employees of the New York Times, the Boston Globe, their websites, and corporate offices will have their pay cut 5% and will have 10 additional paid days off.

The Times media group had 9,346 employees in December, including at least 4,000 union employees.

It posted a $30.3 million loss last year, compared with a $248.6 million profit in 2007.