5 Reasons for This Brutal Wave of Media Layoffs

Available to WrapPRO members

Clashes between owners and guilds and the bleak state of advertising made January 2024 a bloody month in media history


The new year began with a bloodbath for media outlets, as the Los Angeles Times, Forbes, Sports Illustrated, Pitchfork, Forbes, NBC News, Time Magazine and Business Insider all cut editorial staffers in shocking numbers in less than a month.

The layoffs this week alone have ranged from the 3% announced on Thursday by Forbes and 8% at Business Insider to a staggering 120 positions — more than a 20% of the newsroom — axed at the LA Times between Tuesday and Wednesday. That move, following a historic walkout by the LA Times Guild, saw the publication showing the door to award-winning writers and photographers.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.