The company’s financial pain gave rise to a recent report by the Wall Street Journal that Soon-Shiong has been looking to sell one or both papers. He has claimed the report isn’t accurate.
Despite pay reductions, furloughs and three weekly papers being shuttered and eventually sold early in the pandemic, the company managed to add 163 full-time people in 2020, Nancy Antoniou, the company’s chief human resources executive said.
Earlier this week it emerged that the California Times had secured a $10 million federal loan as coronavirus relief, which Argentieri said would be used primarily to pay for staff and benefits.
The paper, which has been roiled by racial tension and diversity issues over the past year, is also taking aggressive measures to correct that imbalance, execs told staffers Thursday.
Antoniou said majority of the new hires were nonwhite with 24 percent identifying as Hispanic or Latino, 20 percent identifying as Asian, 13 percent identifying as Black or African American, and about 5 percent identifying as having two or more races. She said about 34 percent of the new staffers were white, while roughly 4 percent declined to identify.
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