Major Corporate Media Outlet Forced To Fire Over 100 Staff As Revenue Slumps

On Tuesday, the leadership at the Los Angeles Times decided to fire at least 115 employees in the paper's newsroom in the largest layoffs in the paper's industry. The mass layoffs, approximately 20 percent of the news team, come as the paper struggles to generate revenue as online outlets and social media like X/Twitter regularly outcompete newspapers.

The paper's owner, Dr. Patrick Soon-Shiong, explained that the newspaper had lost $30-$40 million a year without building up its audience. "Today's decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation. We are committed to doing so," Soon-Shiong said. The paper's owner went on to explain that the LA Times requires new leadership, leading to Washington bureau chief Kimbriell Kelly, deputy Washington bureau chief Nick Baumann, business editor Jeff Bercovici, books editor Boris Kachka, and music editor Craig Marks all being laid off.

The paper has struggled to bring in substantial revenue following the COVID-19 pandemic, leading to decreased returns in recent years. "The economic reality of our organization is extremely challenging," The Times' Chief Operating Officer Chris Argentieri said in a statement to staff announcing the layoffs. "Despite our owner's willingness to continue to invest, we need to take immediate steps to improve our cash position."

Conservative commentators online had no empathy for the left-leaning outlet, with Cernovich writing, "When is the last time the LA TIMES broke a story harmful to the Biden regime? These are newsletters for the DNC and Democrats in power. Nothing is lost by their folding. They don't really do anything resembling journalism."

"[N]ot one single person bemoaning the LA Times layoffs has a shred of introspection over why they failed so dramatically & why nobody trusts or likes them. [T]heir only reaction is aimless whining/screeching," wrote The American Conservative contributing editor Chris Brunet. "[C]itizen journalism is the future no matter how much you whine."

"The mass layoffs at the [LA Times] are only a 'blow for journalism' if these are journalists," Dinesh D'Souza explained. "But since they're not, layoffs & bankruptcy for these institutions is a big win for journalism. It's like getting rid of hospitals & doctors engaged in malpractice—a big win for medicine!"

As small and large newspapers nationwide struggle to compete with freelance journalists on social media, more papers will follow in the LA Times' footsteps. As previously reported by the DC Enquirer, Washington Post CEO Patty Stonesifer told employees late last year in a memo that she would be seeking to lay off around 120 employees after it offered exit packages to 240 amid growing profitability issues that have plagued the outlet. Corporate media is struggling to compete against citizen journalists who have flourished in the free speech environment created by Elon Musk's X. 

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