Media layoffs top 3,000 in past year as digital ads disappoint

A Time magazine with Apple founder Steve Jobs on the cover is on display at the newly opened Apple Museum in Warsaw, Poland. — AFP

NEW YORK: Layoffs swept much of the media industry last week in an ominous start for 2024, further thinning the ranks at once-mighty publications such as the Los Angeles Times, Time and Sports Illustrated.

More than 3,000 editors, reporters and journalism industry professionals have lost their jobs over the past year, according to estimates by Bloomberg News, adding to what has been a devastating few decades, particularly for newspapers.