California’s largest daily newspaper, the Los Angeles Times, announced on Tuesday that it is laying off at least 115 people -roughly a quarter of its staff- as it continues to hemorrhage money.
The layoffs were announced in a newsroom-wide email from L.A. Times president and Chief Operating Officer Chris Argentieri, according to reporter Matt Pearce.
“This total, while devastating, is nonetheless far lower than the total number of Guild layoffs initially expected last week,” Pearce posted on X, formerly Twitter.
Last Friday, members of the Los Angeles Times Guild, the union representing newspaper staffers, staged a one-day walkout to protest the anticipated job cuts.
“Slashing a quarter of the newsroom is devastating by any measure – to our members and their families, to our morale, to the quality of our journalism, to the bond with our audience, and to the communities that depend on our work,” the Guild said in a statement. “We believe our decision to go on strike saved scores of newsroom jobs today.”
Tuesday’s layoffs come after the paper slashed 74 positions in July, the union said.
In an article published in the L.A. Times on Tuesday, the newspaper’s owner, Dr. Patrick Soon-Shiong, said the cuts were needed to account for losses totaling $30 million to $40 million a year due to declining subscriptions and advertising 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.
Among the senior editors laid off were the paper’s Washington bureau chief and deputy Washington bureau chief, its business editor and music editor.
L.A. Times video game industry reporter Sarah Parvini was also let go.
“It’s been an honor to work at the paper for nearly a decade, launching a video game beat, helping to win Pulitzers, covering diverse communities. To my colleagues, [the L.A. Times Guild], readers: Thank you,” Parvini tweeted.
Soon-Shiong and his family purchased the L.A. Times and the San Diego Union-Tribune from Tribune Publishing for $500 million in 2018.
Layoffs and buyouts have hit a wide swath of the news industry over the past year. The Washington Post, NPR, CNN and Vox Media are among the many companies hit.
An estimated 2,681 news industry jobs were lost through the end of November, according to the employment firm of Challenger, Gray and Christmas. That was more than the full years of 2022 and 2021.
The Associated Press contributed to this report.