Here is what Najam Sethi himself wrote today:
You should know the facts: I resigned from Daily Times as Editor and from Media Times (which owns Daily Times) as Director on 11 October 2009 after six months of fighting with the management over employee rights, including salaries and increments and downsizing. I was accused by the Chief Financial Officer of taking the side of employees and "bleeding the paper". This is known to the staff. My senior colleagues Khaled Ahmed, Ejaz Haider and Ata Musawwir and Qasim Nauman have also resigned to back up my position. What more can we say?
Just so you remember, this is where we first wrote about the resignations. That was October 11, the exact date Najam now admits he resigned.