The Los Angeles Times said Tuesday it would lay off about 115 journalists, reducing its newsroom by more than 20 percent, after weeks of top editors leaving and workers walking off the job.
The billionaire owner of The Los Angeles Times, Dr. Patrick Soon-Shiong said. An interview He said in his article that he is losing $30 million to $40 million a year and needs to make more progress in building more viewers.
“During the recent turbulent years, our business faced significant challenges, including losses exceeding $100 million in operating and capital expenditures,” said Dr. Soon-Shiong. The first years of the epidemic.
He did not mention that since Dr. Soon-Shiong bought the Times in 2018, “we have invested nearly a billion dollars, underscoring our commitment to preserving its heritage and securing its future.” .
A spokesman for the Times had no immediate comment.
The announcement ends uncertainty over the extent of the cuts after negotiations between the union and Times management. Hundreds of journalists walked off the job on Friday to protest planned layoffs across The Times' 142-year history.
This month, executive editor Kevin Merida announced his sudden resignation. In a memo to staff, Dr. Soon-Shiong said he and Mr. Merida and Mr. He wrote that it was “mutually agreed” that Merida should leave. Two other top editors, Shani Hilton and Sarah Yassin, announced their departures in recent days.
News of the layoffs — which will shrink the newsroom to the size it was when Dr. Soon-Shiong bought it — was delivered in a brief email to affected employees on Tuesday. According to a copy of the email seen by The New York Times, the human resources department notified them that their last day would be at the end of March, citing a “difficult economic operating environment.”
“We regret having to take this action, and thank you for your work for the Los Angeles Times,” the email said.
The cuts affected several departments at The Los Angeles Times, including its business desk, Washington bureau and its “Fast Break” desk, which covers breaking news.
Matt Pearce, president of the Media Guild of the West, which represents unionized workers at The Times, said in a statement. Mail 94 of those laid off in X were union members.
“This total, while devastating, falls far short of the total number of guild layoffs initially expected last week,” he wrote.
In an email to colleagues on Tuesday, business reporter Sam Dean, a member of the union's leadership, said: “Remember these proposed layoffs are not final, they are proposed and negotiated with the guild. They will change as buyouts, negotiations, etc. continue.”
“Don't sign anything,” he added.