Los Angeles Times to axe 250 jobs: newspaper

AFP, July, 2008

LOS ANGELES (AFP) — The Los Angeles Times is to axe 250 jobs across the company as part of a cost-cutting drive to bring expenditure into line with falling revenues, the newspaper reported Thursday.

The Times said the cuts would include the loss of 150 editorial positions and would also see the newspaper's pagination shrink by 15 percent each week.

Times editor Russ Stanton said in a memo to staff reported by the paper on Friday that the cuts reflected the "paradox" of the Internet revolution.

"Thanks to the Internet, we have more readers for our great journalism than at any time in our history. But also thanks to the Internet, our advertisers have more choices, and we have less money," Stanton wrote.

Stanton also said the paper's advertising...