The American newspaper industry is facing a severe crisis, as many publications are struggling to survive in the digital age.
The Los Angeles Times, one of the oldest and most prestigious newspapers in the country, announced on Tuesday that it will lay off more than a fifth of its editorial staff, amid annual losses of tens of millions of dollars.
The newspaper’s owner, billionaire and biotechnology businessman Patrick Soon-Shiong, said the decision was painful but necessary to build a viable and prosperous newspaper for future generations.
The journalists’ union expressed its regret for the layoffs, saying that the newspaper cannot perform its important role in a vibrant democracy if it cuts off its employees.
The Los Angeles Times, which has won 51 Pulitzer Prizes since 1942, has been facing the challenges of the digital age, such as the decline in advertising revenues and the loss of subscribers. The newspaper also saw its editor-in-chief Kevin Merida leave his post earlier this month, amid disagreements with the owner, according to media reports.
The LA Times is not the only newspaper that is suffering from the crisis. Many other traditional and digital media outlets have announced job cuts in the past year, as the coronavirus pandemic and the presidential election have increased the pressure and competition in the industry. Time magazine, Sports Illustrated, BuzzFeed News, Vice Media, and Conde Nast are some of the examples of media organizations that have reduced their staff or closed their offices.
Conde Nast, which owns famous magazines such as Vanity Fair, Vogue, and GQ, faced a protest from its unionized employees on Tuesday, who stopped working for 24 hours to oppose a social plan that threatens their jobs.
The employees demonstrated in front of the One World Trade Center building in New York, where Conde Nast’s offices are located, and received support from actress Anne Hathaway, who left a photo shoot in Vanity Fair in solidarity with the strikers.
By Salam Bustanji
