Los Angeles Times to Slash Newsroom by Over 20%
The Los Angeles Times said on Tuesday it would lay off about 115 journalists, slashing its newsroom by more than 20 percent after a tumultuous few weeks that saw top editors depart and workers strike.Patrick Soon-Shiong, the billionaire owner of The Los Angeles Times, said in an interview with his paper that it was losing $30 million to $40 million a year and needed to make more progress in building a larger audience.“It is indeed difficult to reflect upon the recent tumultuous years, during which our business faced significant challenges, including losses that surpassed $100 million in operational and capital…
