young pepole are flocking to the web for information and news making traditional print media like newspapers and magazines wring their hands over plummeting readership and ad revenue.
the constant reports of layoffs and retrenchments at big news corporations point to a gloomy future for traditional media.
the new york times has announced plans to lay off about 100 people from its newsroom as a result of''the worsening financial picture facing the paper and the rest of the industry''.
while layoffs have been common in the industry,this is the first time the paper's newsroom has had to confront the harsh reality.