New York Times Co. to end its Employee Stock Purchase Plan

The New York Times Co. is ending its Employee Stock Purchase Plan, which enabled employees to buy company stock at a discount.

An e-mail message sent by the Times Co. to company employees,

leaked to the website Gawker.com,

said:

“In the case of the ESPP, participation among emoloyees is very low — less than 10 percent. Meanwhile, the expense to carry the plan on our books for such a small number of employees has grown.”

(Source: Gawker.com, Oct. 25, 2010.)