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Despite selling its building, The New York Times sent a memo out to employees yesterday notifying them of an all around pay cut. The Grey Lady will cut newsroom salaries by 5% and will also cut an additional 100 jobs from its business division. In another cost cutting move, staffers will receive an additional 10 “personal days off over the next nine months.”
Amazon CEO Jeff Bezos has spent this week working at an Amazon distribution warehouse in Lexington, Kentucky. Bezos, who did not allow camera crews or the press to follow him, has been at the factory all week, seeing what its like to be a low level employee at Amazon.
Sources say Apple will unveil the latest iPhone at their 2009 Worldwide Developers Conference on June 8th. While rumors of a new iPhone have been circulating for months, introducing a new model would be in line with its actions for the past two years. Apple’s annual Worldwide Developers Conference, hosted in San Francisco, will run from June 8th to the 12th.
Facebook is looking to raise an additional $100 million. Despite having already amassed $500 million, mounting bandwidth costs and slowing ad rev have caused the social network to seek additional funding. Like last year, the funds will most likely go towards new servers, which the company needs to keep up with its rapid growth.
Google is working on a program that will allow media buyers to purchase TV advertisements that coincide with advertising on YouTube and other sites. Dubbed Google TV Ads Online, the system will take advantage of Google’s targeting technology in order to provide the best placement for ads across different platforms. The move is part of Google’s plan to make it easier for major advertisers to better manage their ads over multiple platforms, as well as being able to measure their success rates across mediums.