Current:Home > Contact'The Washington Post' will cut 240 jobs through voluntary buyouts-DB Wealth Institute B2 Reviews & Ratings
'The Washington Post' will cut 240 jobs through voluntary buyouts
lotradecoin listing View Date:2024-12-25 15:47:25
The Washington Post plans to cut 240 jobs, or almost 10% of its workforce, through voluntary buyouts, the company announced Tuesday.
The Post had been "overly optimistic" about its growth in readership, subscriptions and ads for the past two years, interim CEO Patty Stonesifer wrote in an email to staff. "We are working to find ways to return our business to a healthier place in the coming year."
Stonesifer said voluntary buyouts would be offered to employees in specific roles. She did not list which roles.
"To be clear, we designed this program to reduce our workforce by approximately 240 employees in the hopes of averting more difficult actions such as layoffs – a situation we are united in trying to avoid," she said.
This is the second — and much larger — reduction in staff at The Post this year. In January, it eliminated its Sunday magazine and a handful of jobs elsewhere in the company, which is owned by Amazon founder Jeff Bezos. (The Post itself has reported that 50 jobs were eliminated.)
Publisher Fred Ryan left in June following questions of his handling of the newspaper's finances, strife with the Post's labor unions and reported tensions with Executive Editor Sally Buzbee, whom Bezos hired in 2021.
This has been a tough year across the media industry. NPR laid off nearly 10% of its staff this spring, citing a projected revenue shortfall. Other media outlets that announced steep layoffs include Gannett, CNN, The Los Angeles Times and Vox Media.
Stonesifer said the Post would share more details with staff in a meeting on Wednesday morning.
veryGood! (8)
Related
- Proposal to allow local police to make arrests near Arizona border with Mexico will appear on ballot
- Russia says renewing grain export deal with Ukraine complicated after U.N. chief calls the pact critical
- Louis Armstrong's dazzling archive has a new home — his
- Gunmen open fire on customers and employees in Mexico bar, killing 10
- White House says deals struck to cut prices of popular Medicare drugs that cost $50 billion yearly
- Soccer player dies after collapsing during practice in South Africa
- Walmart Ups Their Designer Collab Game With New Spring Brandon Maxwell x Scoop Drop
- 'The Beast You Are' is smart, self-aware, fun, creepy, and strange
- Get 10 free boneless wings with your order at Buffalo Wild Wings: How to get the deal
- Moscow will try to retrieve U.S. drone wreckage in Black Sea after Pentagon blames Russian jet for crash
Ranking
- How a small group of nuns in rural Kansas vex big companies with their investment activism
- We unpack the 2023 Emmy nominations
- BET Awards honor hip-hop as stars pay tribute to legends such as Tina Turner
- Wait Wait for June 24, 2023: Live from Tanglewood!
- Don't be fooled by the name and packaging: Fruit snacks are rarely good for you. Here's why.
- Stassi Schroeder Is Pregnant, Expecting Baby No. 2 With Beau Clark
- Cyclone Freddy's path of destruction: More than 100 dead as record-breaking storm hits Africa twice
- Transcript: Treasury Secretary Janet Yellen on Face the Nation, March 12, 2023
Recommendation
-
Alabama lawyer accused of sexually assaulting handcuffed inmate, lawsuit says
-
Billions Star Damian Lewis Announces Surprise Season 7 Return
-
Trench Coats Are Spring's Most Versatile Outerwear Look— Shop Our Favorite Under $100 Styles
-
Kelly Clarkson wants you to know her new album isn't just a sad divorce record
-
The president of Columbia University has resigned, effective immediately
-
Girl who went missing from a mall in 2018 found in Mexico
-
Tom Cruise hangs on for dear life to his 'Mission' to save the movies
-
A rare battle at the Supreme Court; plus, Asian Americans and affirmative action