As many as 700 — almost ten-percent of the overall staff — are on the chopping block at Time Magazine. According to New York Magazine, a whole herd of top-level sacred cows at the New York Times will be given the non-choice of a buyout or a forced layoff within the next few weeks.
And in both cases, it’s due to “rapidly declining advertising revenue.”
Yeah, that’s a shame.
This is what you call going down with the ship. Time and the NYT are Exhibits A and B in the case to expose everything wrong and self-defeating with today’s mainstream media. Rather than do the job honestly (which would undoubtedly improve the customer base), and wake up to the reality that the Internet has removed the monopolistic distribution bottleneck on the flow of information that kept them alive for so long, both publications chose instead to double down when it came to pushing a left-wing agenda.
It was almost as if they knew the end was coming, and this was their last chance.