Tribune laying off staff at LA Times, Chicago Tribune

The Los Angeles Times is reporting it will cut 150 employees as the paper continues to have declining revenue. 70 of the job cuts will come from the newsroom, which will lower the editorial contingent from 940 to 870. Meantime, the Chicago Tribune will cut about 100 jobs from its newsroom and will offer employee buyouts. Both the L.A. Times and the Chicago Tribune are owned by Tribune Co., which was recently purchased by Sam Zell for $8.2 billion.