The Los Angeles Times is
offering buyouts to workers with two years or more at the company, according to the New York Post.
Owner Patrick Soon-Shiong sent an email to staffers on Monday, saying
“the economic landscape of the media industry continues to be extremely challenging,” the Post reports. "The difficult financial situation faced by the Times requires us to remain
diligent in managing costs.”
Soon-Shiong added: “By offering this voluntary buyout program, we aim to provide those of you who may be interested with the flexibility to explore
your options.”
However, Soon-Shiong hailed the staff’s coverage of the recent wildfires.
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