Citing a need to generate revenue and cut costs, The New York Times circulated a memo to its employees on Friday announcing that it would vacate at least eight of the floors that it occupies in its 52-story skyscraper in midtown Manhattan, according to Politico.
The paper's publisher, Arthur Sulzberger Jr., and its president and CEO, Mark Thompson, informed staff on Friday that it will reconfigure its newsroom and office space so that it could then rent the eight vacated floors.
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