Executives at New York Times accept substantial bonuses, while staffers face five percent salary cuts

The New York Times has joined the club of organizations that give bonuses to their fat-cat executives, while the company slides and rank-and-file employees face pay cuts and unemployment. Here’s the scoop: top executives at the Times received substantial bonus and fringe benefit payments over and above their salaries, according to a proxy statement to the Securities and Exchange Commission released March 11. The bonuses included stock options. A Times spokesperson noted that “options are a forward …