Trump was right? The 'failing NYT' will rent 8 floors in its HQ to raise cash

I am happy to hear how badly the @nytimes is doing. It is a seriously failing paper with readership which is way down. Becoming irrelevant!

— Donald J. Trump (@realDonaldTrump) April 25, 2016

Maybe President-elect Donald Trump was onto something when he called it the “failing New York Times” all of those times?

Did somebody say "failing New York Times"?https://t.co/NazmKdsSzj

— Phil Kerpen (@kerpen) December 16, 2016

From Politico:

The New York Times will vacate at least eight floors in its midtown Manhattan headquarters as part of an extensive redesign and consolidation of its newsroom and office space. Executives at the company said in a memo Friday that the move will save money, generate rental income and increase newsroom collaboration.

“We’ve made the decision to consolidate our footprint across the building to create a more dynamic, modern and open workplace, one that is better suited to the moment,” Publisher Arthur Sulzberger Jr. and President and CEO Mark Thompson wrote in a note to Times employees Friday. “We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration. We expect a substantial financial benefit as well. All told, we will vacate at least eight floors, allowing us to generate significant rental income.”

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And so much for adding staff to handle all the new subscribers:

I guess they aren't adding a lot of staff with all those "new subscriptions" that came in post-election https://t.co/nLxuFL10zB

— Ira Stoll (@IraStoll) December 16, 2016

Times brass can spin this however they want, but it’s not good news:

I love how this isn't a downsizing but a way to do their jobs better. Massive layoffs are going to follow this. https://t.co/X63t8I6Iwc

— John Podhoretz (@jpodhoretz) December 16, 2016

But at least the suits at the top will suffer. Well, a little bit:

NY Times publisher and CEO will lose their corner offices, as company to vacate 'at least eight floors' at HQ: https://t.co/5aqPXsu38F

— Alex Weprin (@alexweprin) December 16, 2016

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