Los Angeles Times to Cut Over 10% of Newsroom Staff

The Los Angeles Times, owned by Dr. Patrick Soon-Shiong, will be cutting more than 10% of its newsroom, resulting in the termination of 74 newsroom employees. This marks the first layoffs since Soon-Shiong bought the paper and other media outlets in 2019 for $500 million. The decision to terminate certain positions was announced via statement from the media company, stating that “the economics of operating a media business have grown increasingly challenging since the onset of the pandemic, and this is especially true for news organizations.” The paper was bought after cuts to the editorial staff but avoided losing more employees; however, the company has now fallen victim to the recent difficulties experienced by many media businesses. The company’s objective is to become a “self-sustaining institution” that can “serve the community for generations to come. The Layoffs represent about 13% of the newsroom, and the cuts come at a time where many media companies are reporting similar measures.