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L.A. Times Lays Off 115 Staffers Amid Financial Crisis
The Los Angeles Times started laying off 115 staffers on Tuesday, as owner Patrick Soon-Shiong seeks to stem tens of millions in losses.
The Los Angeles Times announced Tuesday that it is laying off 115 staffers, as billionaire owner Patrick Soon-Shiong looks to stem losses that have grown to $30-$40 million a year. Matt Pearce, a Times reporter and president of Media Guild West, said on X that 94 union staffers were being let go, which he said was “devastating” but less than the number expected a week ago. “We’ve put hundreds of millions of dollars — approaching $1 billion — over the past five years into the L.A. Times, and we are committed to continuing to invest while we work to get the paper on a path to sustainability,” Soon-Shiong wrote.
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