TAIPEI (Taiwan News) — Taiwan's leading newspaper Apple Daily is reportedly considering layoffs due to economic fallout from the coronavirus pandemic.

Following its sister company Next Magazine's closure on Feb. 29, Apple Daily has been forced to deal with financial losses and overstretched budgets resulting from a decline in subscriptions. In April, the founder of the publications, Hong Kong entrepreneur Jimmy Lai (黎智英), even pleaded for help for his flagship newspaper as advertising revenue slumped severely amid political retaliation by the Chinese government, according to Yahoo News.

On Wednesday (June 17), Apple Daily confirmed reports it is considering job cuts but clarified that no official decisions have yet been made. The company said the layoffs would most likely affect editors and staff from the sales department and that the executives are currently discussing the size of the layoffs.

Meanwhile, the labor union representing Apple Daily employees pointed out that it has reached out to the news agency and expressed hope that individuals planning to quit could be prioritized in the layoff plan. It also urged Apple Daily to offer severance packages to those who do lose their jobs, reported CNA.

Over the years, Apple Daily has built a reputation for its tabloid-style coverage of celebrities and politicians and is largely deemed the pioneer of Taiwan's gossip journalism. Lai has also gained significant publicity recently for his involvement in Hong Kong's pro-democracy protests and his outspoken criticism of the Chinese Communist Party (CCP).