The New York Times is restructuring its video unit, and as a result, making hires while also offering buyouts.
“We will do some targeted hiring to add the kinds of deep experience, news judgment and creativity we believe essential to take our video to a higher level,” explained a memo from Times executive editor Dean Baquet. “And we will also offer a buy-out in video open to anyone on the staff — whether they are excluded or in the guild — effective Tuesday.”
As with any time buyouts are offered, layoffs are likely not that far behind.
“Until we know what talent we’ve been successful in bringing on board combined with which members of the department take the voluntary buy-out we have no way of knowing whether lay-offs in the department will take place,” wrote Baquet.