New York Times wields its ax

On Monday, the New York Times announced they were cutting 100 newsroom jobs, mirroring a harrowing trend that has ransacked the struggling newspaper industry. Between layoffs, furloughs and buyouts, many of the country’s major (and minor) papers have reduced their staff in an effort to combat dwindling ad revenue and tanking subscriptions.

But there is a positive spin — the Times is mailing buyout offers to its employees before it institutes its mass pink-slipping. That’s not really good news, but it’s better than what the Westchester Journal News did in August when it not only abruptly told all 288 employees their jobs were being eliminated, but also added another pinch of panic — not only were employees axed, but they were told they had to reapply for new positions using the paper’s internal Web site.

At least the Boston Globe is safe — the Times said last week it was taking the paper off the market because the Globe had “improved enough,” according to company chairman Arthur Sulzberger Jr. Maybe one of the two prospective buyers who submitted preliminary bids for the now off-market Globe could step up and rescue the Times.

Or maybe the Times could save costs by cutting something else. Like maybe the sushi bar in its cafeteria.

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