Importantly, the study focuses on planned layoffs, not actual number of job cuts.

"Already this year we have seen job cuts announced by Time Inc and the New York Times Company," said John Challenger, CEO of Challenger, Gray & Christmas. "These organizations will continue to make adjustments as their focus shifts from print to electronic."

As readers spend more time online than reading print, advertisers are readjusting their own focus, thus providing less revenue for print, thus pushing newspapers to focus even more on online, and so on.

Newspapers are in tough competition with other media and news organizations, but also with the increased number of alternative news sources and information platforms (blogs, gossip sites, consultants and analysts), according to Challenger.

"This dilutes their audience and dilutes the amount of money they can charge advertisers, which currently is the primary source of revenue for online news sites, since most are not charging subscriber fees to access their content," Challenger said.

There is only one solution for traditional media including newspapers: transition quickly and smoothly to online and multimedia. For those who can’t embrace the change, or who don’t have the resources to sustain print while transitioning, they will continue to be forced to cut jobs.

"Until they can figure out a way to make as much money from their online services as they are losing from the print side, it is going to be an uphill battle," said Challenger of planned cuts across the media sector.

Source: CNN