The Los Angeles Times announced it was laying off 115 journalists in the newsroom starting Tuesday as billionaire owner Patrick Soon-Shiong looks to stem losses that have grown to $30 to $40 million a year.
The 142-year-old newspaper, one of the largest circulations in the US, has lost its managing editor and editor-in-chief in recent weeks.
The announcement came after the LA Times Guild walked off the job last Friday to protest the impending layoffs, the organization's first-ever newsroom union work stoppage.
Matt Pearce, the president of the Media Guild of the West, wrote on X, formerly Twitter, that 94 union members were informed on Wednesday that they were being laid off. He also said an email from the company's CEO confirmed that the company decided to reduce the number of the guild members to be laid off after they went on strike last week.
Pearce referred to Tuesday as a "dark day" as many departments and clusters across the newsroom will be heavily hit. He continued some of those selected for layoffs by management may be eligible for buyouts under the union contract.
According to The Guardian, the LA Times claimed that senior editors, photographers, and members of the video unit were also part of the massive layoff.
Soon-Shiong stated on Tuesday that the layoffs were required because the publication could no longer afford to lose up to $40 million a year without increasing advertising and subscription revenue.
"Today's decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation. We are committed to doing so," Soon-Shiong said.
On Tuesday afternoon, the union said in a statement that the staffing cut is the fruit of years of mediocre strategy, the absence of a publisher, and no clear direction. However, they said they remain grateful for the Soon-Shiong family's investment in the newspaper.
Furthermore, they remain committed to be good-faith partners in the business and at the bargaining table. The union continued that it was also clear that those entrusted to steward his family's generosity had failed him.
Layoffs in News Industry
According to AP News, buyouts and layoffs have affected a large portion of the news industry over the past year. The Washington Post, NPR, CNN, and Vox Media are the many affected companies.
The employment firm Challenger, Gray, and Christmas said an estimated 2,681 news industry jobs were lost through the end of November. The reduction exceeded the totals for the years 2022 and 2021.
In June last year, the LA Times announced another round of job cuts following the elimination of over 70 positions, roughly 13% of the newsroom.
