LA Times Offers Buyouts To Employees: What To Know

LOS ANGELES, CA — The embattled and shrinking journalism sector appears to be gearing up for another big staffing reduction at a legacy newspaper as the Los Angeles Times just offered voluntary buyouts to any worker who has been with the paper for more than two years.

Max Tani, Semafor media editor, posted a screenshot on X of the memo shared with staff.

The 143-year-old newspaper cited ongoing financial and economic struggles in the memo:

"While The Times remains a vital source of news and information for our city, region, state and beyond, the economic landscape of the media industry continues to be extremely challenging. The difficult financial situation faced by The Times requires us to remain diligent in managing costs. By offering this voluntary buyout program, we aim to provide those of you who may be interested with the flexibility to explore your options."

The LA Times and LA Times Guild did not immediately respond to requests for comment on Tuesday morning.

The news comes just days after the Eaton and Palisades fires were completely contained. The newspaper acknowledged the impact the fire has had on the city and its employees.

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"We understand that many of you and our broader community have been deeply affected by the recent devastating wildfires. These events have underscored the essential role that The Times plays in delivering critical information to those in need," the memo reads.

In January of last year, the Times spurred outrage among workers when it announced plans to lay off a substantial amount of employees due to a widening budget deficit. Members of the LA Times Guild walked off the job following the news. The one-day unfair labor practice strike was the paper's first in history.

The walkout was prompted by management's request to waive seniority provisions in the union's contract covering layoffs, according to a statement from the LA Times Guild.

Four days later, the LA Times laid off 20% of its newsroom.

The Times reported that the legacy publication "could no longer lose $30 million to $40 million a year without making progress toward building higher readership that would bring in advertising and subscriptions to sustain the organization."

According to Politico, more than 500 journalists were laid off nationwide that same January.