It's Been a Brutal Stretch for the Media Industry

Massive cuts at 'Los Angeles Times' are just one part of the picture
By John Johnson,  Newser Staff
Posted Jan 26, 2024 1:41 PM CST
It's Been a Brutal Stretch for the Media Industry
The Los Angeles Times newspaper headquarters is located in El Segundo, Calif., Tuesday, Jan. 23, 2024.   (AP Photo/Damian Dovarganes)

The Los Angeles Times laid off 20% of its workforce this week, a devastating blow to its newsroom, and it's only the latest such move by mainstream outlets in the last week or two as the industry reels:

  • Business Insider said Thursday it will cut 8% of its staff, reports CNN. The outlet also notes that Time cut dozens of jobs and Conde Nast announced plans to do so.
  • Forbes said the same day it will cut 3% of its workforce even as its newsroom union began a walkout to protest earlier cutbacks, per Axios.
  • Staffers at the New York Daily News also walked out in protest Thursday of cuts that have decimated the newsroom, per the Guardian.
  • Sports Illustrated might be history after laying off pretty much all of its staff.

  • "At a time when America arguably needs more solid news coverage than ever, it is very disturbing to see economic forces arrange so powerfully against traditional news sources," Andrew Heyward, a former CBS News president who now analyzes the industry at MIT, tells the New York Times. "It's not just disturbing," he adds. "It's dangerous." Among those economic forces: "Ad growth in the 2010s was unsustainably high, and publishers acted like it would last forever," per Axios.
  • All of the above applies to the local level, too, with Northwestern's Medill School estimating that half of all US counties have little or no access to local news.
  • It's not just news outlets hurting. Reuters rounds up layoffs at tech/media outlets including Audible, Amazon's streaming operation, streamer Twitch, and Microsoft's Activision Blizzard and Xbox. The Verge also has details on this front.
(More media stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.