New York Times, Wall Street Journal Plunging Profits Result In Staff Cuts
Wall Street Journal

Amidst a year of propaganda-pushing, biased reporting, fact-free coverage and cover-ups of scandals rocking the nation, the New York Times, Wall Street Journal and Gannett have all had to undergo major staff cuts through buyouts and layoffs.

According to Poynter, 19 union workers have been laid off from the Wall Street Journal amid falling revenue and dwindling profits. They also report that at least 48 employees have taken voluntary buyouts from the news organization who now finds itself fledgling in the market like a chick hatched fresh out of the nest.

This was in result of the Wall Street Journal being 30% off its targeted revenue margins, according to a report from Politico.

The Union has plans on challenging the layoffs of union workers as soon as they receive the layoff notices through the IAPE office. While noble, the reality is that the 48 buyouts still tell a tale of the Wall Street Journal tanking.

The New York Times hasn’t fared much better, according to various reports from a number of different outlets. While Daily Mail and Breitbart are reporting 97% drops in quarterly profit, others like Fortune are reporting that quarterly operating profits only fell by 59%.

The drop was due to buyouts, just like what the Wall Street Journal has been doing. According to Fortune, the New York Times took out a $13 million dollar severance pay charge for the buyouts.

Those same buyouts put the digital and print magazine in the red for the nine months under the current fiscal year by $14 million. This is compared to the same period in 2015 seeing the magazine in the black by $11 million.

On the upside, for the New York Times, they’ve seen an uptick in both revenue and profit from the digital front and their subscribers – the latter of which tallies up to 116,000 – but the digital side of the magazine being up has not been enough to offset the loses from the print production.

Reuters has a very one-sided look at the news, completely forfeiting to mention the buyouts, the profit-loss and being in the red, only opting to report that the New York Times is doing “better than expected”, while selectively quoting some of the quarterly figures.

It’s the lop-sided, fact-blind reporting from major news media that has led a lot of people away from those outlets. This has also caused a lot of people to lose trust in the media, so much so that trust in American mainstream media has fallen to just 32%.

This all comes after a string of misinformation regarding hot button topics like the election, sociopolitics and even enthusiast pastimes like video games with biased and untruthful coverage of #GamerGate.

More specifically, the New York Times has printed lots of misinformation about gaming, was one of the sites saying that #GamerGate was a harassment campaign targeting Anita Sarkeesian, and even managed to do a half-arsed review of Kingsglaive: Final Fantasy XV to top it off.

As the old saying goes: if these websites can’t be trusted to cover video games truthfully, what hope is there for them to cover more important topics truthfully?

(Main image courtesy of RedusTheRiotAct)

About

Billy has been rustling Jimmies for years covering video games, technology and digital trends within the electronics entertainment space. The GJP cried and their tears became his milkshake. Need to get in touch? Try the Contact Page.

  • C G Saturation

    Long deserved. By the way, typo: *lost of misinformation = lots

    In other news, that Clinton international child sex slave trade rumor seems to be true. People have been piecing together the dots based on information flowing out from the FBI and WikiLeaks. Seems legit:
    https://www.reddit.com/r/The_Donald/comments/5aupnh/breaking_i_believe_i_have_connected_a_convicted/

    You know you’ve been redpilled for a long, long time when this kind of thing isn’t at all surprising.

    There’s discussion on the_donald about how it seems FBI agents are bypassing standard procedure (ie. Comey/Obama’s blocks) and leaking info to the press in order to ensure stuff gets out there. Dunno if it’s part of one big distraction.

    • C G Saturation

      Just saw this on The_Donald and it’s relevant:
      https://www.reddit.com/r/The_Donald/comments/5avtlo/the_cuckoldry_is_reaching_heights_previously/

      The NYT ran an op-ed about “Why America needs a female president” and they tried to use South Korea’s President Park as an example.
      http://archive.is/ZUPoo

      Considering how President Park is under fire for immense corruption, I can’t stop laughing at the irony.

    • Thanks for catching that. *Fixed.

      And yeah, I noticed that about r/The_Donald, too. They seem to be the political version of Kotaku In Action. Clinton’s sub operates more like GamerGhazi.

      There’s definitely a lot of conspiracy theories floating around r/The_Donald, but to their credit they really do try to verify some of that stuff, sort of like how they went through and tried piecing together the FEC data with the names mentioned in the Project Veritas videos and found out that Clinton was literally paying those people to be disruptive.

      If the FBI really is leaking the info then hopefully r/The_Donald keeps it up and keeps exposing that stuff. I’m usually shocked to find so many discoveries on that sub from people just digging. It’s like the diggers from GG found a new home.

      • C G Saturation

        The latest interpretations/findings are pretty crazy. Still doesn’t surprise me because I’ve always thought rich people must be doing lots of crazy shit that normal people can’t do or imagine.

        Kinda explains why the left/liberals/whatever has been defending pedos, attacking Christians, and acting cultish.

        If it’s all true, I hope it gets broadcast everywhere and goes down in history so that a ton of people get red pilled.

  • anopolis

    While I’m far removed from being considered highly educated, I know how to turn those profits around and increase them say 300%. What they could do is hire whats known as actual journalists. An actual journalists is just like any other only actual ones come with integrity, and aren’t likely to put blind ideology before the pursuit of truth..so basically they don’t always lie through their asses, or use their articles as a soapbox, so they can feel better about the stupid views they hold dear.

  • Alistair

    Another good day of news. If they Don’t listen to our advive by butting out of our hobby and everything else.

    They’re deserve what coming to then and other media outlets should see this and fear because they could be next.

    So what the advice clear up your Act or go under.

    • Unrelated, but there is bad news for us in the UK. I saw in one of Computing Forever’s YT videos that in the UK, a law has been passed that sports institutions are forced to hire more women otherwise they will not receive any funding from the government should they apply for governmental funding.

      Sounds very familiar doesn’t it? Yes, it sounds almost exactly like the Sexism labels they’re trying to enforce onto video games. The policy they want (set up by a female MP of the Labour party of fucking course) is to force developers to depict female characters in “positive” roles in their games otherwise they will not receive any funding from the government should they apply for governmental funding.

      This Sexism label is going to happen I reckon. Again, would love to be proved wrong.

      • Alistair

        Sport institutions are not video games.

        & I do not think the sexist label will come now it be here by now.

        There of course next year, we need to stay sharp. Do the powers at be want to spead more money to fund the sexist labels & PEGI to police it.

        • Yeah I know they’re not video games, but it’s the same concept of law.

          And seeing how the UK is virtually a complete cesspit of leftist PC-SJW feminist crap, I can see this going through.

      • C G Saturation

        Reminds me of the Factual Feminists videos about how the U.S. government has laws for schools or whatever to maintain a 1:1 ratio, or you don’t get funding.

        As a result, lots of talented males never get a chance to shine because there aren’t enough females interested in the same shit to balance the ratio. I’m sure they do this on purpose.

        It’s ironic because the people bitching about women being suppressed and waste of talent are the ones who are actually suppressing talented people.

        Also heard about businesses struggling to meet diversity requirements and having to resort to employing females who are underqualified and literally can’t do their jobs. But it makes everyone happy that she’s just there, because DIVERSITY.

        To make that clear, I never said women can’t do their jobs. I’m saying there are jobs most women don’t care about, which makes it insanely hard to find a woman skilled enough to do certain jobs properly. But they get employed to meet numbers.

        As in, they don’t care about the individual. All they care about is that a person happened to be born female. If it was me, I wouldn’t want to be valued just because I was lucky enough to be born with the right chromosomes.

        • And of course you can guarantee that if the schools end up having more females than males in the schools, NO-ONE will complain. In fact, the mainstream media will be glorifying and prasing it through the fucking roof.

  • Hawk Hopper

    I was thinking about that “97% drop in profit” and I think if that were true, the New York Times would probably be looking at going out of business soon.

    Which I wouldn’t mind, but it’s good to watch these shoddy (to be polite) news outlets slowly die.

    • C G Saturation

      I would like to see them suffer huge losses instead of just losing profit. Like what happened to Gawker.