The Los Angeles Times isn't immune to the financial realities of the coronavirus.
The Los Angeles Times has an owner with deep pockets, but unfortunately that hasn’t made the newspaper immune to the financial realities of the coronavirus.
In addition to the unpaid furloughs, some senior editorial staff across the paper will be working with reduced pay, on a scale of between 5 percent and 15 percent, depending on salary. The pay cuts are set to last 12 weeks. The stop of 401 matching will go through the end of the year. He also alluded to the possibility of cuts for editorial staff represented by the union, saying leadership will “meet with union representatives to determine any expense-saving initiatives that may be implemented.”
“Our hope is that these will be temporary measures as we seek to stabilize our operating budget and begin planning for a return to business as usual – or a modified version of it, as humankind adapts to life with COVID-19.”
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