More Layoffs at New York Times

Newspaper publisher New York Times (NYT Quote) slashed third-quarter earnings guidance and set plans to cut 500 jobs, or 4% of its staff.

The company said the cutbacks will include 45 newsroom jobs at its flagship New York Times newspaper. In May the company set plans for an earlier layoff round that saw it cut almost 200 jobs.

The news came as the company reported disappointing August numbers, saying revenue rose just 0.6% from a year ago. Ad revenue rose 1.7%, but excluding newly acquired information site About.com, ad revenue was down 1% and total revenue was off 1.2%. ...