Email regarding buyouts at the Los Angeles Times

Dear Colleagues,

The California Times is offering voluntary buyout packages (an “Employee Voluntary Separation Plan”). Employees with more than two years of service are eligible to apply.

Since the transition to local ownership, we have invested more than $100 million in staff, technology and infrastructure, and as we continue our transformation of the Times, we shall continue to invest.

We are already working on deploying our resources strategically. We know that to build a sustainable business and ensure our ability to provide vital journalism for decades to come, we need to move swiftly to make our product more digital, more nimble, and more attractive to loyal and new audiences. Buyouts will help us accelerate this process.

We’ll be holding two meetings on Thursday (one at 11 a.m. and one at 3 p.m.) for El Segundo employees who have questions. Details to follow. Employees in other locations should reach out to their HR representative with questions.

See the attached document for further details.

Chris, Nancy, Norm and Jeff