Staffers at the Los Angeles Times will stage a one-day walkout on Friday after the newspaper’s management indicated that it expects to soon lay off employees as it struggles financially. The act of protest will be the first such work stoppage in the outlet’s 143-year history, said the Guild, which represents some 400 employees. In its statement announcing the demonstration, the Guild said that management had “insisted on negotiating” with it in “meetings that are off the record,” so it could not say “how many of its members the company wants to lay off.” “But,” the Guild added, “it is a substantial number in a year in which journalism will play a critical role in the future of democracy.” Management at the Times, which houses the largest newsroom out west, sent staffers a memo saying that it expected to slash its workforce. “Given the recent discussions about our economic challenges and the potential for staff reductions, we wanted to share an update,” the company said in a memo to employees. “We do anticipate layoffs.” The memo added that management was “currently in discussions” with the Guild “about how to proceed,” saying that the union “is asking for buyouts prior to any layoffs” and management is stressing “more flexibility” would “allow the company to save 50 Guild positions.” A spokesperson for the newspaper confirmed to CNN that the company anticipates layoffs, adding that “the hardest decisions to make are those that impact our employees, and we do not come to any such decisions lightly.” “We are continuing to review the revenue projections for this year and taking a very careful look at expenses and what our organization can support,” the spokesperson added. The Times has started the new year on rocky footing. Earlier this month, Executive Editor Kevin Merida abruptly announced he would depart the newspaper. News companies across the industry have struggled immensely in recent years, with the vast majority of publishers being forced to undergo painful layoffs as they navigate difficult terrain.