The Washington Post Plans To Offer Buyouts In Effort To Cut Staff By 240
deadline.comThe Washington Post is planning to offer staff buyouts as part of a plan to reduce their overall staff by 240. Patty Stonesifer, the interim CEO, wrote in a memo to staffers on Tuesday that the media company is looking to “return our business to a healthier place in the coming year.” “The urgent need to invest in our top growth priorities brought us to the difficult conclusion that we need to adjust our cost structure now,” she wrote, as she cited overly optimistic subscription and advertising, as well as web traffic projections.
She said that they were offering the buyouts in an effort to avoid layoffs. The buyouts will be offered after a meeting on Wednesday morning, with a much larger group of employees receiving the offer to ensure that the separation program is “fair and voluntary,” she wrote.
The staff reductions follow reports that Post revenue is expected to fall by $100 million in 2023, according to The New York Times.
The Post laid off staffers earlier this year, but that it would not reduce headcount as editorial investments were made in other areas.
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