The future of the Los Angeles Times, in print and online, rests in our ability to meet the needs of our readers and deliver news and information that is unique, far-reaching and indispensable. In-depth journalism remains our hallmark and we are committed to that mission in the face of economic challenges to our industry and our nation as a whole.
Translation; the blogosphere is eating our lunch. Alright, not just the blogosphere. I think I''ll coin a new term; The Immediate Media Cloud. The IMC for short.
Our website just recorded its biggest month ever in June with 115 million page views, a 50% increase over last year.
Translation; our paid circulation is plummeting.
Couldn't happen to a more arrogant company. Well it can and will but Microsoft is years from this kind of realization. Just like it took a decade after the Chandler family got out of the newpaper business before the Times imploded Gates' departure will eventually result in the dissolution of Mr. Softie.
And how does the LA Times plan on meeting this future?:
I deeply regret to report we will be reducing the size of our editorial staff, both print and Web, by a total of 150 positions, and reducing the number of pages we publish each week, by about 15%.[emphasis mine]
Would you like some collar stays to go with your new spats sir?