The Los Angeles Times said Tuesday it would lay off about 115 journalists, cutting its newsroom by more than 20 percent after a tumultuous few weeks in which top editors left and workers walked off the job.
Dr. Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times, said in an interview with his newspaper that he was losing $30 million to $40 million a year and needed to make more progress to build a broader audience.
“Indeed, it is difficult to reflect on the recent tumultuous years, during which our business faced significant challenges, including losses exceeding $100 million in operating and capital expenditures,” Dr. Soon-Shiong said, noting that the newspaper had not made layoffs in the first years of the pandemic.
Dr. Soon-Shiong added that since purchasing The Times in 2018, “we have invested nearly $1 billion, underscoring our dedication to preserving its legacy and securing its future,” although he did not specify how he had arrived at that figure. .
A Times spokeswoman had no immediate comment.
The announcement ends uncertainty about the extent of the cuts, after negotiations were held between the union and Times management. On Friday, hundreds of journalists walked off the job for the day in the first organized newsroom walkout in the Times' 142-year history, protesting the planned layoffs.
This month, executive editor Kevin Merida suddenly announced he would resign. Dr. Soon-Shiong wrote in a note to staff that he and Merida had “mutually agreed” that Merida should leave. Two other top editors, Shani Hilton and Sara Yasin, announced their departures in recent days.
News of the layoffs, which will reduce the newsroom to the size it was when Dr. Soon-Shiong bought it, was delivered Tuesday in a brief email to affected employees. The human resources department cited “a difficult economic operating environment” and notified them that their last day would be near the end of March, according to a copy of the email seen by The New York Times.
“We are saddened to have to take this step and thank you for your work for the Los Angeles Times,” the email said.
The cuts affected many departments at the Los Angeles Times, including its business desk, its 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 post on X that 94 of those laid off were union members.
“This total, while devastating, is nevertheless far below the total number of Guild layoffs initially expected last week,” he wrote.
In an email sent to colleagues on Tuesday, Sam Dean, a business reporter who is a member of the union leadership, said: “Please note that these proposed layoffs are not final, they are proposed and must be negotiated with the Guild, and could “It will change as acquisitions, negotiations, etc. continue.”
“Don't sign anything,” he added.
