Tags: Coronavirus | los angeles times | furlough | virus | pay cuts | advertising

LA Times Announces Virus-Related Furloughs

Los angeles times office in LA with newspapers on the inside of the window
(Dreamstime)

By    |   Wednesday, 15 April 2020 08:31 AM

The Los Angeles Times told its employees Tuesday that some workers there are being furloughed without pay because of a coronavirus-related advertising slowdown.

According to Variety, California Times president Chris Argentieri sent out a memo with the news.

"Due to the unexpected effects of COVID-19, our advertising revenue has nearly been eliminated," Argentieri wrote. "While we've made significant progress in growing our digital subscriber base and developing other sources of revenue, it is not yet enough to offset the losses. The economy is in crisis and it's become clear that we need to make some difficult changes in order to meet this challenge."

The furloughs, which could last 16 weeks, will affect Times employees on the business side of the paper.

Pay cuts of between 5% and 15% for senior managers on the business and editorial sides will also be instituted. Those pay reductions will be for 12 weeks.

Newsroom employees, who are members of the Los Angeles Times Guild, are not affected by the changes, Variety reported. In a statement, the union said it is "troubled to learn about unpaid furloughs."

The California Times includes the Los Angeles Times and the San Diego Union-Tribune.

Newspapers across the country are cutting back their print editions as advertising revenue falls because of drastic spending cuts at businesses while they deal with the COVID-19 pandemic. Many businesses have temporarily closed, while others have cut costs as they try to weather the storm.

© 2021 Newsmax. All rights reserved.


US
The Los Angeles Times told its employees Tuesday that some workers there are being furloughed without pay because of a coronavirus-related advertising slowdown. According to Variety, California Times president Chris Argentieri sent out a memo with the news...
los angeles times, furlough, virus, pay cuts, advertising
242
2020-31-15
Wednesday, 15 April 2020 08:31 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved