New York Times to slash operations at Paris hub
THE New York Times announced cutbacks on Tuesday to its longtime Paris hub as the United States publisher struggles to keep its international print edition alive at a time when readers are turning more to digital.
The Times said it plans to close its editing and pre-press print production operations in the French capital, folding them into its New York and Hong Kong offices.
The result will be the loss of 70 Paris jobs, out of a total of 113 in the city.
The company said the moves are necessary to keep its global print version, the International New York Times, "more economically sustainable in an increasingly digital world", according to an internal memo.
Nevertheless, it has placed its priorities on growth in digital media, aiming to boost its international subscriber base more from online and mobile users than print readers.
Earlier this month, it announced plans to invest US$50 million (S$67.4 million) in the digital side of the business, creating a new "international digital growth team" focused both on content and advertising.
Like other newspaper publishers, The Times has seen a steady decline in subscribers to its domestic and international print editions as more news consumers turn to television and online sources.
At the end of last year the International New York Times had around 214,700 paid print subscribers, down nearly 5,000 from the previous year.
Other widely-read newspapers have also made heavy cuts or business model changes.
On March 27, Britain's Independent newspaper gave up on print editions, going completely online after seeing print circulation dwindle to 40,000 from a peak of 420,000.
Also last month, the Guardian newspaper said it was cutting 250 jobs amid persistent losses.