New York Times online to pink-slip 69

Cyberbiz Brief

By REUTERS

The New York Times Co. said Sunday that it will cut 69 jobs, or 17% of the positions, at its online unit. Company, publisher of the New York Times and Boston Globe newspapers, said in a statement that the move was part of efforts at the unit, New York Times Digital, to become cash-flow profitable in 2002.

"We continue to be confident about the future and about the utility of the Internet as an additional medium through which we can profitably serve our customers -- both readers and advertisers," said Russell T. Lewis, prexy and CEO of the New York Times Co. Company's shares closed Friday at $42.38.