NEW YORK: The New York Times Co said on Tuesday it would close its editing and print production operations in Paris, resulting in the elimination or relocation of up to 70 jobs.
The Times said it would focus its editing and prepress print production operations in New York and Hong Kong.
The company said in a filing it expected to incur about $15 million in costs related to the measures, with substantially all of the charges to be taken in the second quarter.
The Times, facing diminishing revenue from print advertising, has been trying to popularize its digital content globally by investing in marketing and taking steps such as allowing subscribers to pay in local currencies.
Courtesy : TheNews