About 150 jobs at the Los Angeles Times are expected to be cut next week amid a recent earnings report from parent Tribune Co. that show slumping revenue, the newspaper reported.
The cuts, expected to be announced Monday, would constitute more than 5 percent of the work force and include 70 newsroom positions, unnamed Los Angeles Times executives said Friday in a story posted on the newspaper’s Web site.
Newspaper executives believe many of the cuts will come through voluntary buyouts.
After the reductions, the newspaper will have about 2,625 employees. Its news staff will drop from 940 to 870, the newspaper said.
An after-hours call to a newspaper spokeswoman was not immediately returned Friday.
Budget cuts had been anticipated since November, when editor Dean Baquet was forced to resign. Baquet had defied the Tribune Co. by refusing to cut newsroom jobs.
Tribune Co., which recently accepted an $8.2 billion bid from real estate mogul Sam Zell to take the company private, reported a first-quarter loss Thursday due to weakness in classified advertising.
Quarterly revenue dropped 4.3 percent to $1.21 billion from $1.27 billion a year ago, as publishing revenue slipped 5 percent to $931 million and broadcasting and entertainment revenue dipped by $1 million to $283 million.
Tribune Co. owns the Chicago Tribune, the Los Angeles Times and various other newspapers and TV stations, as well as the Chicago Cubs baseball team.