New York Times To Consolidate NYC Headquarters By Vacating Eight Floors

In a letter to employees from New York Times Company CEO Mark Thompson and Chairman Arthur Sulzberger, the company said it decided to consolidate its headquarters at 620 Eighth Avenue by vacating eight floors to realize a “substantial financial benefit…and to facilitate more cross-departmental collaboration.” The company will rent out the empty eight floors.

And to eliminate the “vestiges from a different era”, the company will do away with big corner offices for the publisher and CEO.

As the work gets under way, 400 employees will move out of the building to nearby office space, and are expected to move back into the renovated space by the end of 2017.

By Caroline Williams