Tuesday, November 17, 2009
NY Times Saving Jobs by Sending Them to Florida
Jobs, Jobs, Jobs...
The NY Times is cutting more jobs, but also saving a few -- how?
Recent news announced that the NY Times will be moving jobs to The Gainesville Sun.
The struggling paper also announced that they will be stopping pension contributions and take the more inexpensive route of supporting 401K programs. These moves are in addition to the previously announced layoff of 100 employees.
Florida is a non-union state with no state taxes and basically, provides a big cost saving measure for the Times.
States like California, New York and New Jersey are responding to the economic downturn with higher taxes and instrusion into the private sector. The results have been small business and some individuals fleeing to less taxed states.
This cycle is a failure. New York just announced that tax collections are down 21%.
States, like the Federal government, need to understand that it's impossible to tax and spend your way out of difficult economic times.