New York Times to Take 4th-Quarter Charge:...

New York Times to Take 4th-Quarter Charge: New York Times Co. will take fourth-quarter charges of $30 million before tax to cover staff cuts and $27 million after tax as a reserve against the company’s investment in its forest products group. The charges could wipe out expected earnings in the period. The company said the before-tax charge is to cover costs for voluntary union staff reductions at its flagship New York Times newspaper. Most of the job losses are for non-editorial staff. New York Times shares closed up 50 cents at $26.25 on the American Stock Exchange.