Magazine content is available exclusively for TIME subscribers.DECLINE OF THE TIMES
When Mark Willes was an executive at General Mills, he ordered the company's Red Lobster restaurants to stop serving bread to diners because they filled up on it and ordered less food. It was therefore entirely in character when the relentlessly bottom line-oriented Willes, six weeks into his new job as CEO of Times Mirror, announced massive layoffs at the media giant's newspapers. In less than a week, Willes closed down New York Newsday, cutting about 750 jobs, and then announced an additional 1,000 job reductions company-wide, primarily at the flagship Los Angeles Times.
These are excruciating times for the newspaper...
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