Current:Home > Stocks'Los Angeles Times' to lay off 13% of newsroom -Streamline Finance
'Los Angeles Times' to lay off 13% of newsroom
View
Date:2025-04-24 12:39:55
The Los Angeles Times informed its newsroom Wednesday that it would lay off about 13% of the paper's journalists, the latest in a string of blows to major American news outlets.
It's the first major round of job cuts since the paper was acquired in 2018 by Patrick Soon-Shiong, a billionaire entrepreneur and investor based in Southern California. At the time, he told NPR that he wanted to protect the L.A. Times from a series of cutbacks that had afflicted the paper under previous owners based in Chicago.
During the pandemic, there was a far smaller round of layoffs. The paper and labor union negotiated a work-sharing agreement and furloughs in lieu of layoffs.
In making the announcement to officials of the newsroom union, executives cited a "difficult economic operating environment." L.A. Times Executive Editor Kevin Merida wrote in a memo to colleagues that making the decisions to lay off colleagues was "agonizing."
"We have done a vast amount of work as a company to meet the budget and revenue challenges head on," Merida wrote. "That work will need acceleration and we will need more radical transformation in the newsroom for us to become a self-sustaining enterprise."
He continued, "Our imperative is to become a modern media company - more nimble, more experimental, bolder with our ambition and creativity than we are today."
This follows major layoffs at other news companies, including BuzzFeed (which eliminated its news division), Vice (which declared bankruptcy), NPR (which laid off 10 percent of its workforce), MSNBC, CNN and The Washington Post.
According to a spokesperson, the L.A. Times intends to lay off 74 journalists. The paper expects to retain at least 500 newsroom employees after the cuts are complete.
Leaders of the paper's newsroom union, called the NewsGuild, note that it has been engaged in negotiations with the paper since September on a new contract with little progress. The prior one, which remains in effect, expired in November. They say they were blind-sided by the announcement, receiving notification from the paper's chief lawyer just minutes before Merida's note to staff.
"This is a case study in bad faith and shows disrespect for the newsroom," the guild said in a statement. It called upon the newspaper to negotiate alternatives, including voluntary buyouts, which it said was required under the paper's contract. (Fifty-seven guild-represented employees are among those designated to lose their jobs, according to the union.)
At NPR, the union that represented most newsroom employees, SAG-AFTRA, reviewed the network's financial books and agreed the need for cuts was real. The two sides ultimately reached agreements on how the job reductions would be structured.
The NewsGuild also represents journalists at the Gannett newspaper chain who walked off the job earlier this week to protest their pay and working conditions.
veryGood! (259)
Related
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Full House's Jodie Sweetin Defends Olympics Drag Show After Candace Cameron Bure Calls It Disgusting
- 2024 Olympics: Colin Jost Shares Photo of Injured Foot After Surfing Event in Tahiti
- Madden 25 ratings reveal: Tyreek Hill joins 99 club, receiver and safety rankings
- North Carolina justices rule for restaurants in COVID
- Armie Hammer’s Mom Dru Hammer Reveals Why She Stayed Quiet Amid Sexual Assault Allegation
- Fencer wins Ukraine's first Olympic medal in Paris. 'It's for my country.'
- Angelina Jolie and Brad Pitt's Son Pax Hospitalized With Head Injury After Bike Accident
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Ryan Reynolds Shares Look Inside Dad Life With Blake Lively and Their 4 Kids
Ranking
- The Grammy nominee you need to hear: Esperanza Spalding
- Banks want your voice data for extra security protection. Don't do it!
- Steals from Lululemon’s We Made Too Much: $29 Shirts, $59 Sweaters, $69 Leggings & More Unmissable Scores
- Shannon Sharpe, Chad Johnson: We'll pay US track stars $25K for winning Olympics gold
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Stephen Nedoroscik pommel horse: Social media reacts to American gymnast's bronze medal-clinching routine
- Utility cuts natural gas service to landslide-stricken Southern California neighborhood
- Income gap between Black and white US residents shrank between Gen Xers and millennials, study says
Recommendation
Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
Full House's Jodie Sweetin Defends Olympics Drag Show After Candace Cameron Bure Calls It Disgusting
MLB trade deadline 2024: Four biggest holes contenders need to fill
Georgia seaport closes gap with Baltimore, the top US auto port
Louvre will undergo expansion and restoration project, Macron says
How Harris and Trump differ on artificial intelligence policy
The Daily Money: Saying no to parenthood
How Harris and Trump differ on artificial intelligence policy