Journalists at The New York Daily News and Forbes, along with other media workers, have initiated a strike in response to layoffs and contentious contract negotiations. The media industry has faced a difficult period, with significant staff reductions reported at several prominent publications. The Los Angeles Times cut 22% of its newsroom, amounting to a 20% workforce reduction, including its Washington office, in an election year. Time Magazine and Business Insider also announced layoffs, with Time laying off dozens and Business Insider reducing its staff by 8%. Condé Nast has similarly experienced hundreds of layoffs. These actions are part of a broader trend of cutbacks across the media sector, with nearly a dozen mainstream media companies, including NBC News, Paramount, and Sports Illustrated, announcing layoffs in an effort to rescue their struggling businesses. The Times and The Washington Post have reported substantial losses, with The Times cutting 74 jobs after losing $30-40 million in 2023, and The Washington Post cutting 240 jobs following a $100 million loss.
Nearly a dozen mainstream media companies are gutting staff and scrambling to rescue their struggling businesses. https://t.co/MlcvrEYrbz
Layoffs swept much of the media industry this week in an ominous start for 2024, further thinning the ranks at once-mighty publications such as the Los Angeles Times, Time and Sports Illustrated https://t.co/rFlQhRow8b
Media companies that have announced layoffs so far this year: Forbes LA Times NBC News Paramount Condé Nast TIME Magazine Business Insider Sports Illustrated
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
NEW - Mainstream media bloodbath: Nearly a dozen mainstream media companies are gutting staff and scrambling to rescue their struggling businesses - The media business is shrinking at the national, state and local levels, Axios reports https://t.co/0uVjUacfWD
Media workers strike to protest layoffs at New York Daily News, Forbes and Condé Nast (from @AP) https://t.co/jRImfglVQQ
Several mainstream media companies are gutting staff and scrambling to rescue their struggling businesses. Some newsrooms impacted include: • Insider • The Los Angeles Times • Condé Nast • Sports Illustrated • Forbes https://t.co/W2fH0PfrxY
It seems over 10 years of woke, fake news has taken its toll on the liberal press in America. The LA Times has cut its workforce by 20%, including its Washington office in an election year. Time has laid off dozens & Business Insider announced 8%. Also hundreds at Condé Nast,… https://t.co/ui9oaEXtBQ
Media workers strike to protest layoffs at New York Daily News, Forbes and Condé Nast https://t.co/nS20tcsjOS
Journalists at The New York Daily News and Forbes walk off the job over contentious contract talks with management and a difficult few weeks in the news industry https://t.co/EYYYJh4s3o