The Los Angeles Times is slashing 115 jobs as it expects to lose $30 million to $40 million this year.
More than 20% of the newsroom is being cut, with young journalists of color worst impacted, according to the LA Times Guild. YouTube video of The Times' layoff report. 
“If these layoffs are allowed, our caucuses will be decimated,” L.A. Times Guild Unit Council head Brian Contreras told Journal-isms.
“38% of Latino Caucus members will leave. 33% of Black Caucus members will leave. According to Journal-isms, Contreras said the AAPI and MENASA caucuses will lose 34% of their membership.
This is in large part because the company refused to offer newsroom-wide voluntary buyouts before launching these layoffs, which could have incentivized more senior staff members (who are disproportionately white) to replace younger staff members (who are POCs and more likely to be laid off). Buyouts helped reduce the racial impact of our summer layoffs, Contreras said.
The company's 142-year existence has never seen such a large labor decrease.
“This decision is painful for everyone, but we must act now to build a sustainable and thriving paper for the next generation. Dr. Patrick Soon-Shiong, the paper's owner, announced Tuesday that they will.
Soon-Shiong tells CBS Los Angeles that newspaper operations remain stable.
“It is indeed difficult to reflect upon the recent tumultuous years, during which our business faced significant challenges, including losses that surpassed $100 million in operational and capital expenses,” Soon-Shiong told The Times. Despite these challenges, we decided not to lay off newsroom staff throughout the COVID-19 epidemic, retaining personnel until the last several months.