The Times has slashed over a fifth of its workforce - one of the worst days in the paper's 142-year history - as it faces $40million in revenue losses.The paper's owner, biotech billionaire Dr Patrick Soon-Shiong, said the loss of 115 workers was necessary as the business is losing $30million to $40million per year.'Today's decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation. We are committed to doing so,' Soon-Shiong said.
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