That's because the LA Times is owned by billionaire Patrick Soon-Shiong, and it is losing money; even though Soon-Shiong is a billionaire, even billionaires have limits. Asked for comment, an LA Times spokesperson said that company leaders "don't generally make forward-looking statements about staffing levels and aren't able to comment further at this time." In 2021, The Wall Street Journal reported that Soon-Shiong was considering selling the LA Times itself , but Soon-Shiong said that was not the case. Last fall, for instance, The Washington Post — owned by Amazon founder Jeff Bezos — one of the richest men in the world — underwent giant staff cuts . In 2020, Warren Buffett — also one of the richest men in the world — sold Berkshire Hathaway's portfolio of newspapers, including his beloved hometown Omaha World-Herald.

Source: Los Angeles Times January 10, 2024 11:34 UTC