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LA Times slashes a fifth of its newsroom jobs, HR News, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p><br />The Los Angeles Times, which is bleeding cash, said it will eliminate at least 115 newsroom positions as it seeks to right its listing balance sheet</p>
The Los Angeles Times, which is bleeding cash, said it will eliminate at least 115 newsroom positions as it seeks to right its listing balance sheet

Los Angeles: The Los Angeles Times said Tuesday it laying off more than a fifth of its journalists, in another example of how news media in the United States and around the world are struggling to cope with the disruptions of the internet age.

The announcement came as staff at the Conde Nast group, which publishes Vanity Fair and Vogue, took strike action over looming job cuts, and as belt-tightening ripples through several major titles.

The Los Angeles Times, which is bleeding cash, said it will eliminate at least 115 newsroom positions as it seeks to right its listing balance sheet.

“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,” owner Patrick Soon-Shiong said, according to the paper.

The Times, like many legacy media, has struggled to adapt to the economics of the online world, particularly the loss of advertising revenue and dwindling subscriber numbers.

Unionized journalists at the paper walked off the job last week when reports first emerged that managers were considering drastic cuts.

Soon-Shiong said the walk-out “did not help” and he expressed disappointment that the newsroom guild had not partnered with managers to find ways to save jobs.

Nevertheless,…


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