LA Times, Chicago Tribune plan layoffs

CHICAGO, April 24 (UPI) -- Executives at The Los Angeles Times and Chicago Tribune said they hope voluntary buyouts will help trim as many as 250 jobs.

With both papers hit by declining advertising and circulation revenue and each showed a first quarter loss of 4 percent, the publishers said.

The Los Angeles Media Group, about to be sold to Chicago real estate mogul Sam Zell, eyes cutting 100-150 of its 3,491 positions, or up to 4.3 percent of its workforce. The Chicago Tribune Media Group said it will eliminate 100 jobs, which represent about 3.4 percent of its 2,900 employees.

Executives at both papers said voluntary buyout programs would give qualified employees one week of salary and benefits for every six-month period they have worked for the company.

Involuntary layoffs would follow if needed. The Times said employees may be allowed to switch to a four-day workweek.