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Los Angeles Times to Cut 300 Jobs

The Los Angeles Times will cut 300 positions in an attempt to stay afloat in the struggling economy.

"Not a day goes by that we don't give our readers the latest news and analysis on the deepening troubles of the U.S. economy," Eddy Hartenstein, the paper's publisher, wrote in a staff memo. "The same challenges that face the companies we report about also are affecting us."

Editor Russ Stanton said 70 jobs will be lost from the editorial department, about 11 percent. The Los Angeles Times will also be cutting the number of daily sections from five to four starting on March 2.

Neither the Guardian nor the San Francisco Chronicle has information about what savings will be made from the cut.

The Guardian states the Tribune Company, who owns the Los Angeles Times as well as the Chicago Times and multiple television stations across the country, filed for bankruptcy at the end of last year.

Both the Guardian and the San Francisco Chronicle list other newspapers who have downsized, like The Dallas Morning News, who will cut 500 jobs, or about 14 percent of its workforce, and will take other measures to cope with the failing ad revenue.