From the NYT:

The New York Times Company is offering a voluntary buyout plan to newsroom and business-office employees in its New England Media Group as part of an effort to cut 125 jobs at The Boston Globe and The Worcester Telegram & Gazette, according to memorandums sent (Thursday) by the head of the group and the editor of The Globe.

The group also plans to outsource some finance and advertising operations to reach its goal in reducing jobs and lowering costs.

The cutbacks are to affect 17 positions in The Globe newsroom and 2 on the opinion pages, according to a memo sent to the staff by The Globe’s editor, Martin Baron. No buyouts are expected in the newsroom of The Telegram & Gazette, said Alfred S. Larkin Jr., executive vice president of The Globe.

The cuts are about 5 percent of the 2,300-member work force. The Globe newsroom has 412 employees.