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The Los Angeles Times has cut more employees in what the paper termed a "modest round of staff reductions" on Friday, just as the parent Tribune company announced a quarterly earnings report with profit down by a staggering 41 percent. The layoffs coincided with the end of the parent Tribune Co.'s quarter and a redesign of its website. The company reported net income of $58.4 million in the first three months of the year, a 41% drop from the $99.1 million a year earlier. Revenue dropped 3.3% to $705 million and pretax »
- Sara Morrison
company.