Layoffs Hit L.A. Times in Big Tribune Restructuring
700 employees reportedly will be cut as the company consolidates its business operations.
The business side of the Los Angeles Times is expected to be heavily impacted by a Tribune Co. restructuring plan unveiled Wednesday.
Tribune Co. CEO and president Peter Liguori revealed in a memo that broad layoffs across multiple metropolitan newspapers, reorganization of digital operations and a consolidation of business operations are planned.
"Creating these critical efficiencies and ensuring the long-term strength of our mastheads will, unfortunately, result in the selective reduction of our publishing staff," Liguori stated. "It is always difficult to part with valued colleagues, particularly those at Tribune who have unwaveringly served our publishing businesses over the years. On behalf of the entire company, I thank them for their dedication, hard work and contributions."
The size of the company-wide cuts has been estimated to be 700 positions, according to items in Tribune Co.-owned papers the Chicago Tribune and the Los Angeles Times.
"To move forward productively, we must explore innovative ways to more efficiently operate our business. Specifically, we must take better advantage of Tribune's unique size and reach. To that end, we have decided to unify the non-editorial functions of our publishing businesses," Liguori stated.
Liguori named the Chicago Tribune's vp of digital Bill Adee to head up the publishing division's digital assets.
In February, Tribune Co. hired Evercore and JPMorgan Chase to gauge interest in a potential sale of its newspapers, which also include The Baltimore Sun, Orlando Sentinel and The Morning Call.
Several months later, in July, Tribune Co. announced plans to spin off its less profitable publishing assets from its local and national television stations and digital classified businesses.