There’s an LA Times walkout of journalists and editors today to protest what’s reported as a 20% reduction in the editorial staff at the LA Times; the paper is losing significant money and there will be buyouts. But the nation’s second largest market needs afrist rate quality newspaper.
From the story:
(Publisher) Soon-Shiong has told managers that although he’s willing to continue to subsidize the operation in the future, cuts are necessary to offset declining revenues. The company lost $30 million to $40 million last year, said two sources familiar with the matter who were not authorized to comment.
Union members were frustrated that the company has not disclosed how many jobs will be cut.
“The Bargaining Committee is not allowed to say how many Guild members the company wants to lay off. But folks: This is the Big One,” Media Guild of the West President Matt Pearce told fellow colleagues in an email calling the emergency meeting.
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