Times to roll back salaries

A New YoekTimes Co. memo sent toJim Romenesko says: "We, regrettably, must take even more steps to lower costs. ...The salaries of all employees at The New York Times Media Group (with the exception of the IHT, which is working on other cost reduction measures), The Boston Globe, Boston.com and Corporate in New York will be rolled back by 5%, starting this April, and these employees will receive 10 additional days off to use before the end of the year." A second memo: eliminates 100 business side jobs.

See the New York Times story.