LA Times or Layoff Times? Net is in. Nupes are down. Jobs are cut

Here is a story of job cuts in Los Angeles Times, with the details of how the Internet is eating into the newspaper business in the US.
It feels strange at a time when newspaper launches are getting common all over India, with new editions being launched all around and even brave, new brands hitting the market, even in the English language business, where, presumably, readers have or will have increasing access to the Web.
Am I missing something here?