NYT Co. cuts 125 jobs

The New York Times Co. laid off 125 staffers from The Boston Globe and the Worcester Telegram & Gazette. The company will extend buyout packages to eligible employees.

“You know as well as anyone that we are in the middle of one of the most challenging periods in history,” wrote Steve Ainsley, head of the New England Media Group, in a memo posted on the web.

The New England Media Group has been a burden to Times Co. for a long time. In November, their ad revenue had fallen more than 10% since last year.

The buyouts could apply to 19 staffers in the Globe ‘s editorial department, 17 in the newsroom and two in opinions.