240 jobs are cut at the Washington Post
The Washington Post revealed plans to voluntarily terminate 240 employees, or nearly 10% of the staff, on Tuesday. ¹
Approximately 2.5K employees are employed by The Post as of this writing, and the buyout announcement comes nearly nine months after the newspaper cut 50 jobs from its newsroom workforce, including 20 layoffs. ²
Patty Stonesifer, the interim CEO, said the company needed to "adjust our cost structure now" because it had been "overly optimistic" in its expectations for subscriptions, traffic, and advertising over the previous two years. ³
In order to avoid more onerous measures like layoffs, Stonesifer stated that the corporation was trying to solve its staffing surplus through buyouts. About half of the buyouts are expected to be related to "journalism functions." packages for buyouts
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