New York Daily News Layoffs

(New York, NY) -- Reporters laid off from The New York Daily News were hugging and kissing one another good bye as they left the paper's building. 

The layoffs are the latest cost-cutting measure by Tronc, the company that bought the financially-troubled newspaper last year for one-dollar. A Tronc executive made the layoff announcement during a newsroom meeting that lasted just 30-seconds. The Daily News, which has been around for 99 years, has won eleven Pulitzer prizes and is considered a must-read paper in New York.

The incoming editor-in-chief is asking the newsroom to give him a month to come up with a strategy following Monday's bloodbath. Robert York says he's serious about trying to work it out.

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(Photo by Drew Angerer/Getty Images)

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