The paper's editor, Dean Baquet, who also refused more job cuts, was not fired and did not step down from his post. Although it is possible that he could still leave, Baquet is hopeful that he can now work with other management to minimize job cuts and reform the budget. If he had been fired, it was speculated that many senior editors would have walked out the door with him in protest.

The fiasco demonstrates perfectly the stress on America's publicly held papers and echoes the rapid disbanding and sale of the country's second largest publisher, Knight Ridder, last year.

Source: New York Times