New York Times Co. cut 100 positions at its flagship newspaper and will reduce non-union salaries by as much as 5 percent for the rest of the year in response to the drop in advertising sales.

The news, which the Times released in two memos from company executives, comes on the same day rival newspaper The Washington Post said it wants to buy out an unspecified number of employees.

New York Times Co.’s fourth-quarter revenue declined 11 percent, the steepest drop since the final three months of 2001, as the company lost advertisers to the recession and other media such as the Internet.