5 Reasons for This Brutal Wave of Media Layoffs

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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.


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