This was from Conde Nast: Not very promising news about the future of the old Gray Lady.
NY Times Co. Slashes Retirement Benefits
"If you're thinking about retiring from your job at The New York Times Co., you should probably do it soon.
Tucked inside its latest 10-Q are the Times Co.'s plans to shave tens of millions of dollars from its budget by hacking away at pension and medical benefits for non-union employees. Those who retire on or after March 1, 2009, will no longer receive medical coverage after they turn 65, when they become eligible for Medicare. The Times Co. also said it has decreased the formula for pension benefits.
The changes, adopted Oct. 22, will yield estimated savings of $24 million in 2009."
As someone nearing retirement with another media company, I must say it increases my anxiety level.
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