The Los Angeles Times announced 150 editorial layoffs--on both print and Web, according to a memo just sent by Russ Stanton. The layoffs will be complete by Labor Day. The memo follows.
From: Stanton, Russ Sent: Wednesday, July 02, 2008 2:05 PM To: yyeditall Subject: Newsroom job cuts
You all know the paradox we find ourselves in: Thanks to the Internet, we have more readers for our great journalism than at any time in our history. But also thanks to the Internet, our advertisers have more choices, and we have less money. Add to that a poor economy, particularly for us in the California housing market, and you quickly see why a wave of cutbacks has swept through newsrooms this year from New York to Santa Ana.
We are not immune. As David Hiller mentioned in his memo last week we are embarking on another round of cost cutting. I deeply regret to report we will be reducing the size of our editorial staff, both print and Web, by a total of 150 positions, and reducing the number of pages we publish each week, by about 15%.