NEW YORK: The International Herald Tribune is in the process of eliminating 36 positions in its Paris offices in a number of departments including production, IT, and circulation. The editorial department will not be affected.
In a written statement obtained by E&P, executives at the IHT have approached the company's "Work Council" with a reorganization plan in compliance with French laws.
"We are committed to working within the French legal process which limits the details we are allowed to share publicly at this stage," said the memo. It will take another three to five months to formally implement any cuts.
Michael Golden, publisher of the IHT, said the reasons for the cuts have to do with a changing media landscape. "We have to adapt," he told E&P this afternoon.
Management wants to maintain its headquarters in Paris -- the IHT's home since it was founded 120 years ago. "We believe it is the perfect city from which to continue to produce our authoritative, international news report. We need to implement this plan in order to achieve this goal, " said the statement.
Three years ago, The New York Times Co. took complete control of the IHT after a joint partnership with The Washington Post Co.
During the December Media Week conferences, New York Times Co. CEO Janet Robinson told investors and analysts that the IHT was benefiting from an improved ad environment in Europe. The paper also made circulation volume gains in 2005. In Q4 2005, IHT revenues grew 33%; however the paper is not profitable. Golden declined to say when they expect the paper to be profitable.
