The 2016 Newcastle jersey hasn't lost any stripes down the side. It seems as though the shoulder and sleeves have gone back to the 1997 style of being hoops (as opposed to one big red stripe that runs down from the collar over the shoulder and down the sleeve). The front of the collar is a different shape now too, I see.
The red vertical stripes on the front of the jersey seem to be a wee bit thinner as well.
The other real difference that I can see by the photo posted in here is -as already mentioned- the Newpave sponsorship has a blue box behind it now ('Why?' is a question I'd like answered! It's not necessary...), and that little Huntley logo up top on the front.
The slightly increased presence of blue on the 2016 version tends to make me think the alternate will have more of a red theme ... which I'm not unhappy with.
I know they did an almost all-red kit in about 2006 that wasn't all that well-received, but that wasn't handled the best in my opinion. If they'd used their regular blue shorts and socks, it would have been fine.