Four Pulitzers Gets You… Layoffs

By any journalistic measure, the Los Angeles Times is flying high these days. One sign of its improvement are the four Pulitzers it won this year. So why is the paper cutting back and laying off staff? Is it losing money? Nope. It seems that the paper’s 26 percent profit margin – 26 percent! – isn’t high enough to keep the Tribune Company (the LAT’s owner) stock rising on Wall Street…