The New York Times is warning its staff that budget cuts and staff reductions loom as the paper looks ahead to the future, according to a study by the outlet about how the newsroom will operate in the future.

Dean Baquet, New York Times’ executive editor, and Joe Kahn, managing editor, said that the outlet’s transformation would require budget cuts and lead to a “smaller and more focused newsroom,” a move that will prompt buyouts and layoffs, which are expected this year.

“We view this moment as a necessary re-positioning of The Times newsroom, not as a diminishment,” they said.

The move comes after the paper ended its regional coverage of art galleries, restaurants, and theaters in the tri-state area, causing dozens of job cuts. It was a sign of things to come when the newsroom slashed more jobs in November, the Wrap reported.

The internal study, called “Journalism That Stands Apart,” known internally as “The 2020 Report,” calls for less emphasis on print-focused roles and more focus on training and accelerated hiring on the digital section.

The report also says that an accelerated pace of hiring will “increase the need for newsroom turnover given budget realities.”

Baquet and Kahn said that most of the cuts will be applied to “duplicative and often low-value line editing,” which will lead to reductions in the editor ranks.

“Let’s not be coy,” they wrote. “The changes will lead to fewer editors at The Times.”

The Times did say, however, that it will invest $5 million toward covering President-elect Donald Trump and his administration.