Even so, advertising volume grew at a yearly average of 8.5 percent.
Increased advertising volume and rates accounted for much of the rise.
For the first 11 months of the year, The Journal's advertising volume was up 15.2 percent.
Ad rate increases are often newspapers' response to a slowdown in advertising volume, and this year is no different.
The Times Company said the retirement program was necessary to bring staff levels more in line with reduced advertising volume.
At The Times, advertising volume rose 2.9 percent in the quarter.
At The Globe, advertising volume rose 2.2 percent in the quarter.
The Times's advertising volume declined in 1988 by 5.4 percent from 1987 and has dropped again this year.
The company said advertising volume dropped at its newspapers, magazines and television operations.
The division's advertising volume fell only 1.7 percent in the third quarter compared with a year ago.
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