The End of the OC Register Dream?

Today, Orange County Register owner Aaron Kushner addressed his employees in the paper's newsroom to talk about coming buy-outs and lay-offs he says will put the paper in a good financial position. This comes only about two months after Kushner expanded into Los Angeles with a Register edition for the paper, and just a year after the former greetings card magnate won national praise for increasing the size of his paper and staff. Kushner claims he he's still committed to producing great journalism and that the cuts are just to ensure the Register's future, but the second large round of staff axing shows otherwise. What happens next?