NYT Slashes Salaries

Another depressing day for print journalists: The New York Times is asking editors to take a 5 percent cut in pay, the New York Observer reports. Last year, the company reduced 100 jobs from its newsroom staff of 1,300. In related news, the Washington Post is offering another round of buyouts in an effort to avert further layoffs. Elsewhere on the newsstand, Alpha Media Group closed Blender magazine, eliminating 30 jobs.