New York Times to Close Printing Plant

NEW YORK (Reuters) - The New York Times Co. plans to narrow the size of its flagship newspaper and close a printing plant, resulting in the loss of 250 jobs, the company said in a story posted on its Web site late on Monday.

The changes, set to take place in April 2008, include the closure of a printing plant in Edison, New Jersey. The company will sublet the plant and consolidate its regional printing facilities at a plant in Queens, the paper said.

The newspaper will be narrower by 1 1/2 inches. The redesign will result in the loss of 250 production jobs, the company said.

The New York Times said it expected the changes to result in savings of $42 million.

The narrower format, offset by some additional pages, will reduce the space the paper has for news by 5 percent, Executive Editor Bill Keller said in the article.

The Times will join a list of several other papers from The Washington Post to the Los Angeles Times that have reduced their size as they cut newsprint and other production costs and try to stem a loss of readers and advertising to the Internet and other media.

Separately, Chief Financial Officer Leonard Forman will retire in 2007 after the company names a successor, another article posted on the Times Web site said.

Forman was president of The New York Times Co. Magazine Group from 1998 until it was sold in 2001, the biography on the company's Web site says. He was senior vice president for corporate development, new ventures and electronic businesses from 1996 to 1998.

He also worked for the Times Co. as director of corporate planning and chief economist from 1974 to 1986.

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