I’ve been told that if you can’t say something nice, don’t say anything at all. While I rarely heed this advice, this time I’m gonna keep my mouth shut and let Mack Reed spill the beans:

Los Angeles Newspaper Group has laid off LA.com’s top managers, including manager Lynda Keeler and the heads of ad sales and marketing in light of less-than-stellar ad sales and audience numbers, and LANG’s New Media Group is taking over with plans to restructure the site’s business model.

Apparently, the layoffs came about 2 weeks ago, as part of a LANG-wide restructuring that seems to have gone completely unnoticed in the L.A. mass media or blogosphere, despite the cutting of about 100 jobs in editorial and circulation:

It seems LA.com’s plan to attract young, solvent women with a blend of entertainment news, listings and travel content and utility, and then selling their eyeballs to high-end advertisers like L’Oreal and Amex in exchange for ad space wasn’t quite raking it in fast enough to keep the content-heavy site afloat.

/me points, laughs.

There’s more too. Go read it.