The New York Times company is launching another round of buyouts and layoffs, telling staff on Wednesday that it must cut 100 newsroom jobs to further reduce costs and focus resources on its digital operations, according to Reuters.

It's also cutting its NYT Opinion app after only four months after the lower-priced subscription products failed to take off as hoped, Reuters reported.

The planned cuts represent about 7.5 percent of a total current newsroom staff of 1,330, according to Reuters.

According to a morning memo released to employees, buyouts will be offered to an undisclosed number of senior managers in the print, digital and advertising divisions, New York Times publisher Arthur Sulzberger Jr. and CEO Mark Thompson said, Reuters reported.

The New York Times continues to face a drop in print advertising revenue as readers opt for digital content and advertisers shift more of their spending online, according to Reuters.

Overall annual print newspaper ad revenue has fallen 64 percent over the past eight years to $17.3 billion in 2013, according to the Newspaper Association of America, Reuters reported

Replacing the NYT Opinion app is the NYT Now app, which included the paper's top stories and is available online and on the iPhone for $2 a week, according to Reuters.

Many of the subscribers are younger users, many new to the paper, but it will continue as a smartphone app only while the company tests other, "more intuitive" lower-priced subscription offers, Reuters reported.

The company said it will continue to sell separate subscription access to the Opinion section of its website, according to Reuters.