New York Times's About.com cuts 9.5 percent of staff

NEW YORK Fri Feb 6, 2009 12:25am IST

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NEW YORK (Reuters) - The New York Times Co's About.com online encyclopedia laid off 19 people, or about 9.5 percent of its staff, on Thursday because of cost cuts in response to a prolonged economic crisis.

The job cuts came after About.com suspended pay raises, limited travel budgets and cut discretionary spending to compensate for lower revenue projections, a spokeswoman said.

The cuts came in About's sales, client services, marketing and editorial units, she said.

New York Times shares rose 10 cents, or 2.09 percent, to $4.89 on the New York Stock Exchange.

(Reporting by Robert MacMillan, editing by Leslie Gevirtz)

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