New York Times executive editor Jill Abramson sent this memo to her staff today:
The voluntary buyout process in the newsroom, which began last month is now coming to an end. The voluntary buyout period closes Thursday at 5 p.m.
We will know a day or two after that whether or not we will have to go to layoffs in order to reach the savings we need. We’ll need some time to figure out which buyout requests we can accept.
If you think the buyout is something that works for you at this time in your life, we urge you to give the offer serious consideration if you haven’t already. Each buyout we record reduces the possibility of layoffs.
If you have any questions please be in touch with Bill or Janet.
Living with the uncertainty that this kind of process inevitably creates has been painful for us all. And at the same time we are grappling with the sadness at the departure of friends, of wise and trusted colleagues and great journalists.
I am very grateful to all of you for your patience and forbearance.