The Boston Globe is laying off 42 employees in response to faltering revenues, particularly in print advertising.
Most of the job cuts fell in the newspaper’s advertising, circulation and marketing departments, and for many of those affected, last week was their last at the newspaper.
“One of the big reasons for the cuts is the decline in volume in circulation and advertising, so we’re looking at the business we’re handling and that kind of led us to those departments,” said Bob Powers, VP of communications and public affairs for the Boston Globe. “Some of the newsroom was cut earlier in the year, so it’s not totally immune.”
Forty-eight positions, including some in the editorial department, were cut earlier this year. Most of those were though buyouts, whereas most of the current cuts were from layoffs.
Globe parent, the New York Times Co., reported third quarter revenues of $687 million, down 8.9% from the same period a year ago. Advertising revenues decreased 14.4%, and circulation revenues increased 1.0 percent; other revenues declined 4.2 percent. Revenues decreased mainly due to lower print advertising.
“A primary reason behind this is to cut expenses and improve our financial health,” Powers said. “We focused the cuts mostly among managers to flatten out the organization.”
Like many of its competitors, the Globe is looking to the Web as a growth area. Boston.com received 8.9 million visitors in September, according to Powers — almost double the site’s average. The site has seen success with recent video additions and also is exploring hyperlocal news and community networks. Online advertising for New York Times Co. grew 10.2 percent in the third quarter.
