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Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2001 Daily News

Byline: Paul D. Colford

Apr. 13--Job cuts are the big story at The Wall Street Journal and buyouts are the big news at The New York Times.

The two national papers, jolted by a sharp falloff in advertising that's affecting the entire publishing industry and other media as well, yesterday spelled out the grim steps they're taking to scale back costs.

The Times said it's sliced spending on travel, marketing and other areas and now plans staff reductions "as the last significant area of cost-savings."

Buyouts will be offered throughout The New York Times Co., including subsidiary companies such as The Boston Globe. Times spokeswoman Catherine Mathis and a letter to the Times staff from publisher Arthur Sulzberger Jr. did not specify how many people the company wants to shed from the payroll, nor did they say how much money it hopes to save.

The letter said: "Voluntary buyouts are...

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