The New York Times at the present is forewarning of budget cuts and a smaller newsroom.
The New York Times reports:
The report, released to The Times newsroom on Tuesday, culminates a year of work by a group of seven journalists who were asked by Dean Baquet, the executive editor, to conduct a review of the newsroom and determine a blueprint for its path forward.
Titled “Journalism That Stands Apart,” and known internally as the 2020 report, the document provides a set of broad principles to accelerate the transformation while maintaining a commitment to high-quality journalism.
The report comes at a particularly sobering time for the legacy media industry. The steep and continuous decline of high-margin print advertising has led to significant financial challenges for most newspapers, which in turn are cutting costs and trying to find new revenue sources.
Continue reading the main story News organizations, including The Wall Street Journal and Gannett, have made significant cuts in staffing; The Journal is currently conducting a newsroom review similar to that of The Times, called WSJ2020.
The official announcement for the cuts is expected in the first half of this year. While, The New York Times seeks to invest 5 million dollars in covering the incoming president, Donald J. Trump, and his administration.