Several major media outlets, including Business Insider, LA Times, Forbes, and others, are undergoing significant layoffs as part of cost-cutting measures and restructuring. Business Insider plans to lay off around 8 percent of its employees, while the LA Times laid off 115 journalists, representing 22% of its newsroom. The media industry has been experiencing a turbulent period, with significant job cuts and financial losses reported across various news organizations.
With tons of mainstream media outlets slowly crumbling, Taylor Lorenz gives her 2 cents. Massive layoffs from L.A. Times to Time Magazine have resulted in many liberal journalists losing their jobs! https://t.co/gkWM42xSBS
🇺🇸JASON BREAKS DOWN HOW THE MEDIA IS DYING “LA Times cuts over 20% Conde Naste cut 300 people. Sports Illustrated cut 100 people Vox cut another 4% Jezebel shut down Vice went bankrupt last year It's just absolute complete chaos.” Source: @theallinpod https://t.co/I9lkmYHYK9 https://t.co/PDixpYtCA7
It looks like @latimes needs to do more layoffs. https://t.co/Vh16gfCMC2
Reality is rapidly catching up with US corporate media—As newsrooms find themselves in absolute free fall: ⚪ The Times lost $30-40 million in 2023, cutting 74 jobs ⚪ WaPo lost $100 million, cutting 240 jobs ⚪ The LA Times just laid off 115 journalists—22% of its newsroom ⚪… https://t.co/B7tmm3hGGr
Business Insider is laying off 8 percent of its staff amid a broader restructuring, the latest news organization to cut employees during a particularly turbulent stretch for the media industry. https://t.co/SxGENgJV4j
Business Insider laying off staff. @latimes laying off staff. It finally is starting to feel like maybe the bad guys are losing. “The latest round of layoffs come after 2023 marked the worst year for job cuts in the journalism sector since Covid-19 upended the world in 2020,…
Layoffs happening at Forbes and Business Insider today… #media #publishers https://t.co/pm1tsljzKq
Trying to figure out why the LA Times is going through mass layoffs... 🤔 https://t.co/mNxxKgIn3w
Business Insider plans to lay off around 8 percent of its employees as a cost-cutting measure, according to a memo sent by the outlet’s leadership to staffers. / https://t.co/cqUQdm5v3p https://t.co/kgnbxAlxoM